Lawyers let down divorced women when it comes to pensions
Divorced women have low pensions wealth because those assisting with the process either overlook pensions wealth or fail to assess it properly
Part of the reason divorced women have low pensions wealth is those assisting with the process either overlook pensions wealth or fail to assess it properly. Pensions on divorce have been misunderstood for years.
Looking at particular cases, we can see different practitioners have varying approaches.
A pensions advisory group was set up in 2017 to assist family law practitioners who may not always have an in-depth understanding of the treatment of pensions in divorce.
With guidance due out in March, this will hopefully mark the beginnings of a long overdue change in the way divorce pension rights are assessed. Consistency of approach would be very welcome if this guidance, when finalised, can find a practical middle ground.
It is certainly not the legislation that needs to change, but rather the application of it – principally, it seems, by lawyers who specialise in divorce matters.
David Everett is partner at Lane Clark & Peacock
Main pensions and divorce outcomes
Source: Pensions Advisory Service
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Main pensions and divorce outcomes
Source: Pensions Advisory Service
Leave a comment!
Main pensions and divorce outcomes
Source: Pensions Advisory Service
Leave a comment!
Divorced women drastically miss out on pensions wealth
Source: Relate January 2017
Leave a comment!
Divorced women drastically miss out on pensions wealth
Source: Wave of Wealth and Assets Survey 2014-2016
Leave a comment!
Divorced women drastically miss out on pensions wealth
Source: Wave of Wealth and Assets Survey 2014-2016
Leave a comment!
Divorced women drastically miss out on pensions wealth
Source: Slater and Gordon survey of 2,000 married adults
Leave a comment!
Part of the reason divorced women have low pensions wealth is those assisting with the process either overlook pensions wealth or fail to assess it properly. Pensions on divorce have been misunderstood for years.
Looking at particular cases, we can see different practitioners have varying approaches.
A pensions advisory group was set up in 2017 to assist family law practitioners who may not always have an in-depth understanding of the treatment of pensions in divorce.
With guidance due out in March, this will hopefully mark the beginnings of a long overdue change in the way divorce pension rights are assessed. Consistency of approach would be very welcome if this guidance, when finalised, can find a practical middle ground.
It is certainly not the legislation that needs to change, but rather the application of it – principally, it seems, by lawyers who specialise in divorce matters.
David Everett is partner at Lane Clark & Peacock
Part of the reason divorced women have low pensions wealth is those assisting with the process either overlook pensions wealth or fail to assess it properly. Pensions on divorce have been misunderstood for years.
Looking at particular cases, we can see different practitioners have varying approaches.
A pensions advisory group was set up in 2017 to assist family law practitioners who may not always have an in-depth understanding of the treatment of pensions in divorce.
With guidance due out in March, this will hopefully mark the beginnings of a long overdue change in the way divorce pension rights are assessed. Consistency of approach would be very welcome if this guidance, when finalised, can find a practical middle ground.
It is certainly not the legislation that needs to change, but rather the application of it – principally, it seems, by lawyers who specialise in divorce matters.
David Everett is partner at Lane Clark & Peacock
Main pensions and divorce outcomes
Source: Pensions Advisory Service
Main pensions and divorce outcomes
Source: Pensions Advisory Service
Main pensions and divorce outcomes
Source: Pensions Advisory Service
Divorced women drastically miss out on pensions wealth
Source: Relate January 2017
Divorced women drastically miss out on pensions wealth
Source: Wave of Wealth and Assets Survey 2014-2016
Divorced women drastically miss out on pensions wealth
Source: Wave of Wealth and Assets Survey 2014-2016
Divorced women drastically miss out on pensions wealth
Source: Slater and Gordon survey of 2,000 married adults
Leave a comment!