Pensions after divorce or separation
For many years, there had been little standardised guidance around splitting pensions. This meant it could be tough for family judges, lawyers and pension experts to ensure fair settlements for separating or divorcing couples.
The Pension Advisory Group was established by the Nuffield Foundation for Justice and aimed to make major improvements to the practice of pensions on divorce. It was hoped this would be of particular benefit to those divorcing couples who are not especially wealthy but nevertheless hold pensions of some value.
The findings were stark. The Pension Advisory Group report ascertained that of the 369 court files with a final financial remedy order studied, 80% revealed at least one relevant pension and yet only 14% contained a pension order.
The full report on how to consider Pensions following divorce or separation can be accessed here.