Can the court give an order in respect of a frozen pension?
Yes, when you are going through a divorce, if you or your former spouse are have frozen pension plans, then the Court has to consider these pensions alongside any other pensions you have.
When would I need an actuarial valuation of a pension?
An actuarial valuation of a pension fund may be required to resolve financial issues arising out of a divorce. An actuary can report on the following:
- The correct value of the pension, if one of the parties is suggesting the valuation provided by the scheme is incorrect.
- How the pension or pensions can be shared to achieve equality of income in retirement.
- The value of the pension for offsetting purposes
- How the pension or pensions can be shared to achieve equality of capital
Does a clean break order affect the possibility of winning a share of my spouse’s pension?
Yes, in divorce, if a full clean break order is made, no further orders can be made in respect of matrimonial assets. Accordingly, if your spouse has a pension which you wish to make a claim against, you should not agree to a clean break until the issue with pensions is resolved.
If you want to make a claim against your spouse’s pension or pensions you should do so. It may be that as part of a final settlement you will agree that when the pension has been shared there will be a clean break. This will depend on all of the circumstances of the case.
Call our specialist divorce law team today
The law surrounding pensions and divorce in the UK is complicated. Sadly, some solicitors, especially those who don’t specialise only in family law, don’t fully understand the importance of pensions and getting the right valuation – as a result, we reckon there’s going to be a massive increase in the number of professional negligence claims arising out of negligent advice on divorce.
Either way we can help you – contact our either our specialist divorce lawyers [or if you think you’ve been the victim of a professional negligence following a divorce case, contact our specialist professional negligence lawyers today.
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