Pension sharing can be one of the most complex areas of divorce law, so it is recommended that the separating parties seek the advice of a team of qualified family law solicitors.
The courts have no fixed approach to the dividing of pensions, and therefore it is rarely as simple as splitting the pension down the middle and dividing it between the two parties; a multitude of factors and options can come into play.
If you require legal advice in a divorce case regarding the sharing of any pension you may have accumulated, the solicitors at Farleys are thoroughly experienced in all aspects of divorce and family law and are available to offer clear, reasoned and sensible advice to clients throughout Blackburn, Manchester and the UK in general.
The Division of Pensions
On divorce, family law courts can make a variety of different decisions regarding the division of pensions:
- A pension attachment order against income – it is possible to re-direct all or part of an income stream from the pension following retirement
- A pension attachment order against a lump sum – it is possible to re-direct a portion or the entirety of a lump sum payable on retirement
- A pension attachment order against death benefit – for some pensions, death benefits may be re-directed in whole or in part to a former spouse
- A pension sharing order – the pension of one spouse is divided, creating a new separate pension fund for the other spouse
These are just some of the options open to family law courts, and decisions made by judges in such cases depend heavily upon the individual situation. It is therefore important that you involve a solicitor with experience of dividing pensions at the earliest possible juncture.