A principle used when dividing pensions — aiming to give both parties the same level of pension income, either now or at a set age (such as 60, 65, or state pension age). A Pensions on Divorce Expert (PODE) reports on the most cost-effective way to achieve this, as an alternative to equalising the capital (Cash Equivalent) value.
In Plain English
A way of dividing pensions so that both people receive the same monthly income when they retire. This is often used as a fairer alternative to simply splitting the current total value of the pension pots.
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