Hello all, carrying on from yesterday I’ll answer some of your questions on certain aspects of divorce, today I’ve heard from Sharon in Newquay, she was confused over pensions and divorce after speaking with a friend regarding their divorce. Please bear in mind that everyone’s situation is different when it comes to divorce proceedings, so what happens with their divorce may not necessarily be the case for your individual circumstances.
So Sharon was advised that the husband would not be entitled to any of the wife’s pension but the wife was entitled to a share of his pension as this was the case from her friends divorce. When I dug a little deeper into the details, Sharon had in fact heard when both the husband and wife’s pensions were added together a % of the husband’s pension was shared with his wife to give them both an equal amount (please bear in mind that this was also a long marriage), so may not always be the case.
Whoever gets custody of the children may be entitled to more when the pensions are added together due to the expenses being higher on a daily basis. As said previously each divorce has different circumstances in regards to value of individual assets, children, length of time in the marriage and total combined assets. Pension companies charge for the privilege of sharing, it would be daft for the wife to pass half to the husband and the husband to pass half to the wife.
Pensions are divided fairly in regards to your personal situation, the pension will be given a value just like any other matrimonial assets you may have (property, savings etc.), it is considered as the next largest assets to a married couple after the house. If you are unsure then please seek advice and you should never agree on the financial division until values have been agreed by both of you, hope this has helped.
Please keep your feedback, questions and facts coming, have a good day