Divorce Solicitor Ipswich – Pension sharing on divorce

Amanda Crowe Cropped

When divorcing couples are discussing how to divide their financial assets, the main area that usually causes confusion is what to do with the pensions. There are a number of different ways that couples can split pensions on divorce, and now the first detailed study of pension sharing on divorce since its introduction in England and Wales in 2000, has been published. The study, carried out by Hilary Woodward of Cardiff Law School, with Mark Sefton, has been designed to provide an insight into when and how pensions are included in financial settlements on divorce. They discovered some interesting facts and concluded that while pension sharing on divorce is a positive addition to financial remedies, offsetting pension against non-pension assets remains the most common way of approaching pensions on divorce.

However, this is not always the best way to approach pension division as the economic rationality of the approach and the fairness of the outcomes are not always in a client’s best intentions. For any couple considering divorce and how to deal with financial assets, they should always consider taking independent legal advice to find the best approach that is fair and reasonable for their circumstances

The full report by Hilary Woodard can be found here.

Amanda Crowe

Amanda Crowe is a family law solicitor at Barker Gotelee, Ipswich Solicitors.

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