Pensions and Divorce

It is an unfortunate reality that many marriages end in divorce. In many cases one or both partners have significant pension assets that make up a large percentage of the matrimonial assets.

The treatment of pension rights can be one of the most complex aspects of a divorce or dissolution settlement. There are various factors that need to be taken into account and each party will need professional advice on which option is best for them in their personal circumstances and include:

• If the pension was part of an OCCUPATIONAL PENSION SCHEMEOCCUPATIONAL PENSION SCHEME
  A legal contract set up by an employer to provide pensions and/or other benefits for one or more employees on retirement, death or leaving pensionable service., what policy does that scheme have on pensions and divorce?
• It will be vital for both parties to seek independent advice on making up any shortfall between the benefits they expected at retirement and what they will now receive
• The ex-spouse may well require pension transfer advice

Almary Green is very well placed to assist on this matter. Working under the Collaborative Law approach of the Resolution (formerly the Family Law Society) umbrella, we are fully qualified as Financial Neutrals. A Financial Neutral is an independent financial adviser who will have no bias to either party and is commited to helping all parties understand the pros and cons of the various options that will be considered. We gather financial information from both parties and use our experience to help develop the analysis and advice that will help the collaborative process reach the best solution.

Examples of our work will include:

• Producing an up-to-date valuation of the financial assets and plans in place
• Analysis of current income and costs and developing future income and expenditure projections
• Providing costings for mortgages, life assurance etc
• Advising on pensions
• Cash flow forecasts over your lifetime to allow you to see the effect of the financial options being considered

If you are interested in a free no-obligation consultation, please contact us.