Significance Of Pensions In Divorce Settlements

Significance Of Pensions In Divorce Settlements

Would it surprise you to learn that only a very small percentage of women receive a share of their ex husband’s Pension as part of their settlement on divorce?

A Pension Fund, particularly in the case of couples in their 50’s or 60’s, is likely to be one of the most valuable assets of the marriage. This being the case, a Pension Sharing Order should always be considered in any negotiations for financial settlement on divorce.

Although there is no automatic right to a share of a spouse’s Pension, the Fund should always be included when looking at the situation as a whole and valuing the ‘matrimonial pot’.

Even if the Pension Fund itself is not shared, its value can be used to ‘offset’ against other assets to provide the wife with a fair proportion of the assets as a whole.

An experienced Family Lawyer such as those at Seatons will have the necessary expertise to consider the impact of a Pension Fund on the overall situation and ensure that an adequate settlement is achieved to incorporate a Pension Share if appropriate.

It is important to remember that, when a Pension Fund is shared, the person in whose favour the Pension Sharing Order is made will not receive an immediate cash lump sum, merely a sum to invest in their own Pension Fund.

If you are looking to achieve a financial settlement, whether this includes a Pension Share or not, our experienced and highly qualified Family Solicitors at Seatons can provide you with expert assistance.

Please call me for a free no obligation chat about your family law matter on 01536 276300 or use our online enquiry form.