Recent Findings on Pensions Within Couples
The University of Manchester has published a report which has found that men within couples have substantially more private pension wealth than women.
The report gives statistics on pension wealth across age, marital status, income, and wealth and compares couple’s pension and housing wealth.
The report has found that pension wealth is unequally distributed, with men having substantially more private pension wealth than women and married men having the most pension wealth.
Pension benefits will often be the second-largest asset after the family home, and it is important to understand the range of options available when dealing with pensions.
In proceedings for divorce, nullity or the dissolution of a civil partnership, the Court has the power to share pension savings between parties.
The latest research from the University of Manchester highlights the importance of pension sharing on divorce for women’s finances.
Advice Now has published a survival guide to pensions on divorce which can be accessed here - A survival guide to pensions on divorce | Advicenow
The guide provides useful information about what the law says on pension sharing or splitting and how you can reach an agreement.
It can be easy to overlook pensions when you are separating, as you will likely be concerned about the immediate need to put a roof over the head of yourself or the children.
Ignoring pensions when sorting out a divorce settlement can leave parties, and particularly women, in a weaker financial position after a divorce which can easily be avoided if you obtain the right advice.
Here to Help
If you would like more information or have any more questions regarding pensions on divorce, please contact our Family Solicitors on 0161 941 4000 or email the Family Law Team.