Pensions

For a number of years it has been possible on divorce that claims may be made in relation to a party’s pension fund. However, the statistical evidence indicates that although this has been available for a considerable period of time, the number of people who are actually taking advantage of these provisions is relatively small.

Pensions are often a significant asset in relation to any marriage, and therefore it is vitally important that they are not overlooked when considering an appropriate financial division.

We have expertise in the area of pensions sharing on divorce and have successfully obtained pension sharing orders on behalf of numerous clients. Even if pension sharing orders are not made, it is very important that the value of any pensions are not disregarded, and where appropriate the value of any pension fund is offset against other assets to be divided.

We also have experience of acting for clients who find their pension funds subject to claims being made against them, and can advise and assist in relation to the question of valuation and also direct clients to independent experts who can advise on how best to rebuild pension funds that have been reduced as a result of financial claims being made on divorce.

A pension sharing order on divorce will provide for a specific percentage of a pension fund to be transferred to the other spouse. Sometimes the standard valuation techniques used on divorce, the Cash Equivalent Transfer Value, may understate the real value of the pension, and therefore it is sometimes important to obtain independent financial advice on the possible value of your spouse’s pension fund before negotiating any settlement.

This is an area we have considerable experience in dealing with and we will happily discuss any specific questions you have in this regard.