Pension sharing rules take effect

SINCE the beginning of this month divorcing couples have been able to take advantage of new rules on sharing pension rights. This means that pensions assets will be divided at the time of divorce and divorced couples will not have to wait until their former partner retires or dies to claim their entitlement. Social security secretary Alistair Darling said that the new rules would "particularly help women who are getting divorced after many years of marriage to be secure in the knowledge that they will not have to start saving for retirement from scratch."