{"id":1518,"date":"2018-03-10T13:32:30","date_gmt":"2018-03-10T13:32:30","guid":{"rendered":"http:\/\/www.just-family-law.com\/blog\/?p=1518"},"modified":"2020-05-12T14:07:57","modified_gmt":"2020-05-12T14:07:57","slug":"pensions-on-divorce","status":"publish","type":"post","link":"https:\/\/www.just-family-law.com\/blog\/index.php\/2018\/03\/10\/pensions-on-divorce\/","title":{"rendered":"Pensions on Divorce – What Can You Expect?"},"content":{"rendered":"

\"Pensions<\/a><\/h3>\n

Worried about pensions on divorce? Make sure you know how to get your fair share, and how to protect a pension which shouldn’t be included.<\/p>\n

Valuing Pensions on Divorce<\/h3>\n

Ask your pension provider for the Cash Equivalent Transfer Value of your pension. This will give you an idea of the value of the pension but it can be inaccurate.<\/p>\n

If you’re making a claim over a valuable pension you should consider obtaining a valuation from an actuary.<\/p>\n

Pension Actuarial Reports<\/h3>\n

This will help you get a fair share of a valuable pension. An actuary will work out\u00a0the\u00a0realistic value. He or she will advise how best to divide the pension to provide equality of income in retirement. This will for example take into consideration your different life expectancies. If you’re a woman,\u00a0you will\u00a0need\u00a0more than half as\u00a0you’re likely to live longer.<\/p>\n

State Pension after Divorce<\/h3>\n

Find out your entitlement to a State Pension when working out your financial settlement. Here’s a link<\/em><\/a> to a form you can complete to obtain a forecast. Or\u00a0you can phone,<\/a>\u00a0<\/em>or\u00a0email<\/a>.\u00a0<\/em>You can obtain an\u00a0online forecast<\/a><\/em>\u00a0if you have an HMRC account<\/p>\n

Family Home or a Share of Ex’s Pension?<\/h3>\n

It’s a hard decision. But in the long\u00a0run you could face a difficult retirement with a limited income whilst your ex is reaping the\u00a0benefit of a valuable pension pot. Make sure you get expert legal advice<\/a>.\u00a0<\/em>Most Divorce Solicitors offer free initial advice – we certainly do.<\/p>\n

What is Offsetting?<\/h3>\n

This is where one of you\u00a0keeps their pension and the other gets more\u00a0property or savings etc instead. But there’s always the risk the pension will ultimately provide more security in retirement than the alternative assets.<\/p>\n

Can I Keep My<\/em> Pension out of the Divorce?<\/h3>\n

Try arguing it\u2019s a non matrimonial asset.\u00a0Can you say some or all of it accrued before the marriage? Or\u00a0can you offer a greater share of other assets to compensate? But the only fool proof method is to enter into a Prenuptial Agreement<\/a> before the marriage, or a Postnuptial Agreement during the marriage.<\/p>\n

See my blog Ring Fence & Protect Assets On Divorce<\/a>.<\/em><\/p>\n

Pension Sharing on Divorce after Retirement<\/h3>\n

One approach is to equalise your incomes with a pension sharing order or a maintenance order. This is a complex area and you should seek expert advice from a family law solicitor<\/a><\/em>.<\/p>\n

Getting Married?<\/h3>\n

If you don\u2019t want to risk your pension (or other assets), consider a Prenuptial Agreement. Here’s a helpful\u00a0factsheet<\/a>\u00a0<\/em>on the subject.<\/p>\n

What is a Pension Sharing Order?<\/h3>\n

It\u00a0gives away a share of a\u00a0pension by transferring a percentage of\u00a0it into another scheme. The Order can be made by consent so you don\u2019t have to go to Court. It\u2019s served on the pension provider. Bear in mind pension providers charge fees for sharing pensions. Here’s a link<\/em><\/a> to the form that needs to be filled in. It’s annexed to a Consent Order. (Read here<\/a><\/em>\u00a0how a Consent Order will protect you).<\/p>\n

Can I get my Ex\u2019s State Pension?<\/h3>\n

You may be able to use your ex\u2019s National Insurance Contributions to boost your State Pension. The Additional State Pension can also be shared on divorce. Here’s a helpful\u00a0link<\/a>\u00a0<\/em>to the Pensions Advisory Service<\/p>\n

Pensions on\u00a0Divorce<\/h3>\n

Contact\u00a0 Joanne Houston on 01962 217640 for\u00a0free<\/strong><\/span>\u00a0advice<\/strong>\u00a0on\u00a0Pensions on Divorce. In this 20 minute session we will review your situation and how you can achieve your objectives.<\/p>\n

See my blog about\u00a0how to get the\u00a0best financial settlement<\/a><\/em>\u00a0on divorce.<\/span><\/p>\n

Did you know there are different rules for\u00a0Short Marriages<\/strong>?<\/strong><\/a><\/span><\/p><\/blockquote>\n

\n

JUST FAMILY LAW<\/a>\u00a0are specialist divorce and family law solicitors offering\u00a0personalised legal solutions<\/a>.\u00a0We offer\u00a0collaborative law<\/a>\u00a0which is especially relevant in providing\u00a0solutions tailored to your family\u2019s needs. This includes same sex couples and their families. Visit our website\u00a0just-family-law.com<\/a>\u00a0The topics covered in this blog post are complex and are provided for general guidance only. Therefore if any of the circumstances mentioned in this blog have application to you, seek expert legal advice.<\/p><\/blockquote>\n

image Bubble Couple by Martin Mutch on Wikimedia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Worried about pensions on divorce? Make sure you know how to get your fair share, and how to protect a pension which shouldn’t be included. Valuing Pensions on Divorce Ask your pension provider for the Cash Equivalent Transfer Value of your pension. This will give you an idea of the value of the pension but […]<\/p>\n","protected":false},"author":2,"featured_media":1525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[582],"tags":[320,307,318,317,319,221],"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1518"}],"collection":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=1518"}],"version-history":[{"count":45,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1518\/revisions"}],"predecessor-version":[{"id":1782,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1518\/revisions\/1782"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/media\/1525"}],"wp:attachment":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=1518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=1518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=1518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}