Pensions On Divorce
Whilst it may not seem so at the time of the relationship breakdown, for many people, pensions can in fact form a large proportion of the family asset base. Recent legislation now means that on the breakdown of the marriage a party is entitled to claim a share of their spouse’s pension. There are many different types of pension all with complicated rules which set out when you can retire and when you can take various benefits available to you under the pension scheme.
We will work in conjunction with pensions experts to ensure that, if it is appropriate, the right type of Order is made in your favour. The recent legislation provides for you to receive part of your spouses pension which, once you have taken appropriate financial advice can be placed in a pension scheme of your choice.
Certain industries have particularly good pension schemes (for example the civil service pension scheme) and therefore a proper understanding of how the schemes work can be vital to ensuring there is an equitable division of the matrimonial assets on divorce.
