Part 1 Amendments of the Matrimonial Causes Act 1973
Pensions Act 2008 (2008 c 30) | Legislation

SCHEDULE 6 Pension Compensation on Divorce etc: England and Wales

Section 120

Part 1 Amendments of the Matrimonial Causes Act 1973

1

The Matrimonial Causes Act 1973 (c 18) is amended as follows.

2

After section 21A (pension sharing orders) insert—

“21B Pension compensation sharing orders

(1)     For the purposes of this Act, a pension compensation sharing order is an order which—

(a)     provides that one party's shareable rights to PPF compensation that derive from rights under a specified pension scheme are to be subject to pension compensation sharing for the benefit of the other party, and

(b)     specifies the percentage value to be transferred.

(2)     In subsection (1)—

(a)     the reference to shareable rights to PPF compensation is to rights in relation to which pension compensation sharing is available under Chapter 1 of Part 3 of the Pensions Act 2008 or under corresponding Northern Ireland legislation;

(b)     “party†means a party to a marriage;

(c)     “specified†means specified in the order.

21C Pension compensation: interpretation

In this Part—

“PPF compensation†means compensation payable under the pension compensation provisions;

“the pension compensation provisions†means—

(a)     Chapter 3 of Part 2 of the Pensions Act 2004 (pension

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