As part of Divorce proceedings the Court will need to look at the parties finances. Pensions are often a major asset which will need to be considered.

More often than not at least one party will have a pension which has accrued during the marriage. The court have wide ranging powers available as to what happens to Pensions on Divorce.

Many people are surprised by how much Pensions are worth. They can be the single biggest asset.

A Pension Sharing Order is an Order dealing with a party’s pension.  The most common type of order is a Pension Sharing Order. This Transfers part of a pension into the other spouse’s sole name. The amount is determined after obtaining values of all the pensions and other assets.

The element of the pension which has been transferred belongs to the other party. It is always advisable to obtain independent financial advice and or the advice from a Pension Actuary before agreeing any form of Pension Sharing Order.

Mark Vandaele, Partner and Head of Family Law at George Green, has extensive experience of dealing with pensions and matrimonial assets on Divorce. If you wish to discuss your matter, feel free to contact us on 01902 796930 (mvandaele@georgegreen.co.uk).