These figures from the ONS stem from 2022, leaning out of the pandemic and into a cost-of-living crisis. We know that financial pressures and income concerns have led to many couples delaying the divorce process. What was once a reason to get to...
A pension is considered an asset during a divorce/dissolution and can be one of the biggest assets within a relationship. There can also be a stark contrast in the value of a couple's pensions, particularly if one partner has stopped working, has worked part-time, or has been self-employed and often individuals may hold a number of different pensions. Public sector schemes and defined benefit funds will require more in-depth investigation to understand their true value.
Couples will be expected to disclose the value of their pension during any exchange of full and frank disclosure. There are some circumstances when a pension expert may be required to assist with the valuation of any pensions and provide recommendations.
There are various options when it comes to dividing a pension, the court has the power to make pension sharing orders and pension attachment orders. It is a complex area of law and it is therefore advisable to get legal and financial advice in relation to your pension at an early stage during the divorce process. Our expert financial solicitors will be able to advice you and guide you through the process. Call us on 0161 696 6193.