The courts of England and Wales can order pension sharing on divorce. For clients who have a valuable pension(s) or indeed inadequate pension provision, this is often a great concern. It is never a simple matter for even the reasonably well-versed individual to understand the real benefit that a pension, deferred or current, may have, but our expert team can explain why pension values in divorce are so important.
Pensions have real value. We work closely with specialist actuaries to ensure that you receive the best advice available, so that the appropriate order is made. The problem with pensions has always been their relative intangibility. Property in the form of bricks and mortar can be seen, touched, and valued by most people based on current economic market conditions and this can lead people to underestimate the importance of dealing appropriately with pensions on divorce. Some pensions just offer a market value. Some offer an individual a pension income based on their final salary and length of service. These types of pension can often be referred to as final salary, or defined benefit, type pensions, and can hold great value. It is not unknown to see cases where pension values are worth more than the marital home, which is likely to have a significant bearing on any financial negotiations in divorce.
Please do not hesitate to contact us if you require further guidance or assistance from our team of specialists contact us or send your enquiry to enquiries@manderslaw.com