What options do I have?
• Depending on what other pension provision your spouse has, you could agree to each keep your own
pensions
• Offsetting is another option - this is where your spouse could have a larger share of the other available
assets in return for you keeping all or part of your pension.
• Pension sharing order – this is where an order is made that a percentage of your pension is taken and
transferred to your spouse. Any contributions you make after the pension sharing order is implemented
will go only to your share. Your spouse would not be able to receive income from your pension when you
retire – usually they have to be aged 60 to take the benefits.
• If you are close to retirement you could see if your spouse would accept a share of the lump sum you
will receive on retirement in return for not having a pension sharing order – this may be attractive if your
spouse would rather have the capital sooner.
Will my spouse automatically get half of my pension?
Not necessarily. In circumstances where you have been in the service for longer than the marriage
and thus have pre marriage contributions there is an argument to be had that these years should be
disregarded. In addition, if your spouse has pension provision of their own this should be taken into account
as well in reducing the claim that they may have on your pension.
Overall this is a very complex area of family law. You should ensure
that you take specialist legal advice as the decisions that you take
now will affect the rest of your life. Particularly, they are decisions that
you may be taking which will affect your income on retirement which
for many may feel like a long way away but in reality it is not. You
don’t want to be looking back when you reach retirement regretting
the decisions you made.
Rachel Buckley is a Director of The Family Law Company by Hartnell Chanot. Rachel
has over 15 years’ experience in advising members of the emergency and armed
services. The firm offers a 10% discount to those who are members of the service and
offers the first appointment entirely free.
Rachel can advise on:
• Divorce • Fire service pensions on divorce
• Financial matters on separation • Cohabitation Disputes
• Pre Nuptial Agreements and Separation Agreements
• Domestic Abuse.
Contact Rachel on 01392 241595 Email:Rachel.Buck