Shocking statistics are being reported from the pensions sector, which claim that more than two-thirds of divorcees had not discussed their pensions during divorce proceedings. 

A pension can be a valuable long-term savings plan (with tax relief) that provides income upon retirement. Whilst most people are eligible for a State Pension, if paid in full this only provides £203.85 a week (for tax year 2023/24), which is commonly far below what most people say they hope to retire on. It is therefore important to supplement a State Pension with additional pension savings. 

Divorcees can look to make a variety of claims against the assets of a marriage including pension savings accrued. Accordingly, they could form an essential component of any settlement and should be carefully considered when resolving the parties' respective claims. 

If you are thinking of separating from your spouse or civil partner and would like to discuss how the matrimonial finances could be divided, please do not hesitate to contact one of our family law specialists.