Pensions after divorce
When looking to end a civil partnership or get a divorce, many people avoid or overlook pensions as they seem complicated and overwhelming.
Not looking at future pensions can be costly when seeking to split from your partner and seeking to get divorced or dissolve a civil partnership should involve taking your pension assets into account in the settlement. They are frequently overlooked altogether, despite being one of the largest assets after property or the family home. Pensions do not need to be shared, yet it is important to consider them.
There is no complete disclosure, in that you do not have the automatic right to know the value of your ex-spouse’s or partner’s pension. You can each decide to tell the other or go through your solicitor to get an understanding of any assets affected and what this may mean for your future.
It is important to find out about the value of your pension. You can do this by asking your pension provider. Your family solicitor will be able to help you with this and let you know what you need to find out.
The Pensions Advisory Service have a webpage which may prove useful. You can access it here: Pensions Advisory Service.