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Though there is no straight answer as to whether you can make a claim against your husband or wife’s pension in the event of divorce, we have broken down your options below.
Much of it will depend upon the length of the marriage, the amount of pension accrued during the marriage and the other assets.
That said, the court will take into account all of the assets and that includes any pensions.
In the case of a long marriage, during which all of the pensions have been accrued, there is a good chance that the court will allow the other party to share in the pensions.
How the pension is “shared” or factored in depends upon many factors. It is possible for the court to order that a percentage of one party’s pension pot is transferred to the other. This is known as a pension sharing order.
An alternative is that one party receives more liquid capital (e.g savings) to offset a claim against the others pension.
Pensions are a complex issue and need to be looked at in the context of each individual case and with the assistance of an independent financial advisor.
The first step is to obtain a Cash Equivalent Value (CEV) for each pension. These can usually be obtained free of charge every 12 months.
George Green LLP’s Family Law Specialists are experts in both personal and public sector pensions. They offer free initial telephone consultations. If you wish to discuss your divorce and/or financial arrangements feel free to contact us on 01902 796930 (mvandaele@georgegreen.co.uk).