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Pensions, Your biggest asset?

Posted on Thursday, 7th March 2013 by

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

Faye Remnant is part of our Family Law team based in Loughborough; our Solicitors in Loughborough are experts in their fields and dedicated to quality client care. If you would like to find out more about our solicitors in Loughborough please contact us.

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The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.

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