Combining wifes and husband pensions

Hi,

My wife has recently finished working in a private sector company and had a defined contribution pension where she worked.

She now intends to stop working and mind our children. She will no longer be adding to her pension pot.

I on the other hand, have setup a separate "self administered" excutive pension, as I am a director of my own company; which she is also a director.

Can my wife now take here pension pot that she accumlated through her old defined contribution and transfer the cash value into my pension; so we can have a combined pension pot which I can decide how to invest...

This is exactly what I did a number of years ago when I left the private sector and setup my own company..

I took my pension pot which had been accumated through my job over the years and trasferred it into my new self-administered pension; which I had setup in my name.

Can she now do the same; i.e. transfer her pension pot into my pension scheme; as we are married? OR do she has to remain separate from my pension...

Any help appreciated.

Thanks

If your wife is receiving a salary from your company, she can become a member of the company pension scheme but her fund would be separate from yours - you'd both be members of the XYZ Limited pension scheme. She can then transfer her existing fund into the self-administered scheme, but again it would remain "her" fund.

In general pension funds are not transferable between spouses, except under the direction of a Pension Adjustment Order which would only be issued in the event of a separation.

If your wife is not currently receiving a salary from your company but still wants to take her pension fund into her own control, she can transfer to a Buy-Out Bond. See also this key post.