On divorce, the Court is required to take all of the matrimonial assets into account and this includes pensions. The Court can consider pension funds currently being paid into, plans that have been frozen and plans that are currently paying an income.
There are various options available for dealing with a pension and it will depend upon the particular circumstances of each case.
Offsetting has been a popular way of dealing with the pension issue. Offsetting involves a spouse receiving money or assets in order to compensate for loss of pension rights. This is useful where there are sufficient funds or assets available to compensate. This will allow the person who receives the setoff to use the money or assets as he/she pleases at the time of the divorce. The pension member will retain their pension fund intact.
Another popular method of dealing with pension assets is a pension sharing order. This solution enables the Court to split a pension at the time of divorce so that the spouse without a pension can either become a member of the member’s scheme in their own right (internal transfer) or alternatively, take a transfer of a designated amount into their own pension scheme (external transfer).
Pensions are a complex area and the pension assets can be substantial. We regularly advise in cases involving Armed Forces, Police, NHS and private pensions. We have advised people with modest pension funds to those who have pension funds worth millions of pounds.
Our family specialists will consider all of the options with you in order to meet your needs.
Thank you so much for today. You did an amazing job and I couldn’t have asked for anyone better to represent me! I’m so happy that it went that way and that I’ve been granted the non molestation order. I can now relax a little bit and actually live my life without having the fear of my ex partner in the back of my mind. Thank you so much once again, I’ll always be grateful for you and your team at Sills & Betteridge. You all did an excellent job and handled my situation perfectly.
Thank you for the professional way that my divorce was handled; a very painful time which was eased by the ‘fuss-free’ approach from yourself and Leanne. Will certainly recommend.
I would personally not use any other solicitor – Andrew Durkan has been very professional and understanding in the completion of my will. Highly Recommended.
I am very happy. Thank you for all your help. I hope to be alright for the future now. Kind regards
I wanted to email to highlight how helpful and efficient Matthew Daurge has been during the purchase and sale of our property. This is this first time Mathew has acted on our behalf and he really has made the process run very smoothly and quickly. Because of this we will definitely be asking him to act on our behalf with our future projects.
Mathew presents as being extremely efficient and his communication skills have been excellent. He has always done what he has said he is going to do without us having to keep following this up. Mathew was always very good at keeping us updated and is very approachable. I have work with many solicitors both on a professional level and personal and I am yet to come across a solicitor that has been as helpful as Mathew.
Mathew is a credit to your company. So I just wanted to highlight his good practice and hope you will pass on this positive feedback as it is much deserved.
We remain most grateful for all your help and support in bringing this matter to a satisfactory conclusion. No one could have done more, and we think the outcome is not only a credit to your skills in this area of law, but also to the care and attention that you have taken on our behalf
Branches in Lincolnshire and across Central England
Explore our website to learn more about our services or call 0800 542 4245 for a free initial consultation on selected services.