Photo Credit: J D Mack via Compfight cc
Pensions can seem like a dry subject but in times when equity in houses is still being squeezed a pension can still form a significant proportion of the property to be divided on separation . This is particularly so for people married for , as a rough guide 10 plus years and/or where a pension has been sensibly started early in life i.e. service people, teachers police and other similar government funded schemes . Pensions are always taken into account and the final effect can vary from negligible to forming a vital part of capital sharing and income planning for the future
Pensions are shared in two main ways in practice:
The spouse receiving the share has a specific percentage of the other spouses pension carved out and becomes a scheme member as if they had always been in the scheme or they take that percentage and invest it in a new scheme of their own . Both these options need the assistance of properly qualified pension professionals and of course we can put you in touch with these experts we have come to know and trust .
A second way is to give that spouse who might be entitled to a share of a pension a greater share of other assets as compensation.
If you are separated or even considering your options if separation occurs come and see us for impartial expert advice tailored to your personal circumstances
Keep up to date with our daily blogs through the Edward Hands & Lewis mobile app, just search Edward Hands on the iPhone or Android store to download our app for free
0116 266 5394
