Dealing with pensions on Divorce or Dissolution of a Civil Partnership can be complicated. We have Divorce Solicitors who specialise in Pension arrangements who can provide you with tailored advice and maximise your chances of reaching an advantageous settlement.
We provide free initial telephone consultations for all our clients. Call us now on 0844 800 9860 or contact us online for advice about your specific issue.
On Divorce or Dissolution, the court will consider the division of all assets when reviewing the arrangements for pensions. In some cases it may not be appropriate for a pension to be shared.
The court will require the “cash equivalent transfer value” of the pension before deciding whether to make a Pension Sharing Order and if so to what extent. The cash equivalent transfer value of a pension is a notional value and will not be treated in the same way as “liquid” assets such as properties, investments or money in bank accounts.
When Pension Sharing Orders are made the person in receipt of the Pension Sharing Order will set up his/her own pension to receive the benefits of his/her former spouse’s pension. However, there are certain circumstances whereby the person in receipt of the Pension Sharing Order can become a member of the pension scheme. This is often advantageous if the pension scheme in question is currently under-funded.
Consideration should be given to how any pension sharing fees should be dealt with, whether they should be paid equally by the parties or just by one party or whether it is possible for the fees to be charged to the pension fund itself.
Pension Solicitors on Divorce/Dissolution
Our specialist Divorce Solicitors provide a tailored service and free initial telephone consultation for all our clients. Call us now on 0844 800 9860 or contact us online for advice about your specific issue.