Pension credit

Introduced by the Welfare Reform and Pensions Act 1999, a pension credit is the amount used for the benefit of the ex-spouse of a member of an occupational pension scheme (www.practicallaw.com/8-107-6900) or a personal pension scheme (www.practicallaw.com/4-107-7001) under a pension-sharing order (www.practicallaw.com/4-205-8983). The scheme may either use the pension credit to provide benefits for the ex-spouse in the scheme, or pay it as a transfer payment to another registered pension scheme (www.practicallaw.com/5-201-6474). See also pension debit (www.practicallaw.com/5-205-8987).

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247244907550", "objName" : "Pension credit", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/2-205-8984?source=relatedcontent", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "true", "analyticsPermCookie" : "2-2e34ad1a:145797a3545:-3765", "analyticsSessionCookie" : "2-2e34ad1a:145797a3545:-3764", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }