Financial remedies on divorce
As Family Law Practitioners, we must consider the recent advice and findings from the highly informed and respected Pensions Advisory Group.
As with any family arbitrator or judge handling a pensions case, we consider the recommendations and findings of their report published in July last year.
The Pensions Advisory Group (PAG) maintain the each individual case is different.
For instance, when offsetting pensions, the PAG report makes a number of detailed suggestions as to how an offset might be carried out fairly and expresses caution about placing too much reliance on pre-determined or set figures.
Interestingly the PAG report stated: “Courts sometimes have to grapple with the issue of how fairly to compare the value of a pension and non-pension assets. Attempts to achieve a universally applicable formula for doing this have not been successful”.
This highlights the tremendous need for great care and meticulous attention to detail when considering for division of mentions. There is no one size fits all approach that will work for all clients.
Read an Extract from the PAG Report at the Class Legal website at this link