Often pensions are considered one of the largest assets for divorcing couples so it’s imperative that the fairest settlement is achieved.
The long-awaited guide to the treatment of pensions on divorce, was published on 11 July 2019 by the Pension Advisory Group (PAG) which is a multi-disciplinary group of professionals specialising in the field of financial remedies and pensions on divorce.
The report sets out best practice to legal practitioners, financial experts and judges working in this field to encourage fairer settlements for their clients and reduce any risks to the professional managing the settlement.
The guide is a result of a need to address the variation of financial settlements across England and Wales and to provide clarity as to valuations, sharing or offsetting of pension fund assets, tax issues and potential interactions with mean-tested benefits.
The President of the Family Division, Sir Andrew McFarlane, said of the guide “I am extremely grateful to the Pension Advisory Group who have worked hard to produce guidance which de-mystifies this area and establishes clear ground rules for the proper approach to be taken in every case.”
Hilary Woodward from Cardiff University said “The aim of this guide is to help judges and practitioners navigate their way with more confidence through the tricky field of pensions on divorce, and ultimately improve the fairness of outcomes for those going through divorce,”
To access the guide please click here.
How we can help
Should you need any advice in relation to pensions on divorce, or any other family matter, please do not hesitate to contact our expert family team on 0161 330 6821 or email:
Keith Bull – kbull@bromleys.co.uk
Alternatively, you are welcome to attend any of our free legal surgeries. Please click here for dates and times – No appointment necessary.