Section 32 Buyout

Section 32 Buyout – Pensionfinder








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This is an insurance policy which can be used to transfer the benefits in a paid-up or deferred pension from a previous employer’s pension scheme into a money purchase scheme. A Section 32 buyout can also be used to give a spouse a share of a pension as part of their divorce settlement. The benefits

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    Section 32 Buyout

    This is an insurance policy which can be used to transfer the benefits in a paid-up or deferred pension from a previous employer’s pension scheme into a money purchase scheme. A Section 32 buyout can also be used to give a spouse a share of a pension as part of their divorce settlement. The benefits from Section 32 buyout policies cannot be taken until retirement and contributions cannot be made to them. Sometimes pension trustees of a defined benefit scheme use a Section 32 buyout to transfer their members’ pension benefit to an insurance company.