Pension Claims On Divorce

Pensions often make up a significant proportion of a family's assets, sometimes being worth as much or even more than the Family Home. Glanvilles have substantial expertise in dealing with all aspects and types of pensions to include public sector and Armed Forces pensions.

There are various ways to deal with pensions as part of the financial settlement. These are called 'Off Setting', Pension Sharing or Pension Attachment. In order to ensure the right pension order is made as part of the financial settlement, the following things should be considered:

• CETV: This is the 'Cash Equivalent Transfer Value' of the pension fund. When considering the 'pot' of matrimonial assets you will need to obtain a statement from each of your pension providers with the pension CETV.
• Actuarial Report: Where the parties have sizable pensions, the most effective way of ensuring both parties receive a fair settlement in respect of the pensions is to instruct an actuary. An actuarial Report will give advice and recommendations on division of pensions to ensure a fair result.

Pensions will need to be considered as part of the entire pool of financial assets to ensure a fair settlement overall.