pension debit

pension debit
Introduced by the Welfare Reform and Pensions Act 1999, a pension debit applies to a member of an occupational pension scheme or a personal pension scheme who is subject to a pension-sharing order on divorcing their ex-spouse. The pension debit is the amount by which the value of the member's rights under the scheme is reduced. See also pension credit.
Related links
multi-employer scheme (multi-employer pension schemes)

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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