Guide to Pensions and Divorce

Feb 10, 2018 | Pensions

Breaking up is hard to do!

Divorce and pensions are very significant. A pension could be a couple’s most valuable matrimonial asset, in some cases worth more than the equity in the family home. As such, it is important that pensions are considered in the financial settlement if a couple decides to divorce or dissolve their registered civil partnership. All the money you’ve saved into it (except for your basic State Pension) will be taken into account when your assets are divided.

OBTAINING THE RIGHT GUIDANCE AND SUPPORT IS VITAL

Obtaining the right legal and financial guidance and support is vital when dealing with pensions (and indeed the other assets and financial issues) in the event of a divorce. Pensions may vary in complexity but can be confusing at the best of times, and the details need to be addressed carefully.

WHEN A PENSION IS DIVIDED OR SHARED, THIS DOES NOT MEAN THAT YOU WILL RECEIVE A CASH LUMP SUM – ALTHOUGH IN CERTAIN CIRCUMSTANCES WHERE THE RECIPIENT IS OVER RETIREMENT AGE, THAT CAN BE THE CASE.

  • Importance Of Taking Pensions Into Account
  • How You Divide Them Between You
  • Women Are Less Well Prepared For Retirement
  • What Happens To Pensions When A Couple Gets Divorced?
  • Pension Sharing
  • Pension Offsetting
  • Pension Earmarking
  • Deferred Lump Sum
  • Deferred Pension Sharing

Divorce is an arena fraught with acrimony – want to chat about your options?

When disputes arise within families, emotions run high and rash decisions can be made. This is why divorce is an arena fraught with acrimony. If you would like to discuss your plans, please contact us or use the contact form by clicking here – we look forward to hearing from you.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM, TAXATION ARE SUBJECT TO CHANGE.

THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.

PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE PERFORMANCE.

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