New pension guidance
Pensions are not necessarily a clients’ priority when they seek advice on financial remedies along a divorce or dissolution.
Indeed, when asked about their assets, they are often not mentioned until specifically raised. However when it comes to negotiating a financial settlement for clients’, pensions are often one of the more tricky assets to deal with.
This is why it is so welcome that the Pension Advisory Group has published "A guide to the treatment of pensions on divorce". This has been endorsed by Sir Andrew McFarlane, President of the Family Division, who has stated that both Judges and Legal Advisors should follow it when dealing with pension issues.
The aim is that if everyone follows this guidance as directed, pension negotiations can be dealt with clearly, there is a fairer outcome for the parties, and matters can be resolved more cost effectively and quickly.
As a member of Resolution, who promote a conciliatory approach to family law disputes, I sincerely hope that a more uniformed approach can be taken across the legal profession as to pension claims as a result of this guidance. And at 176 pages I look forward to working my way through this for the next few days!
The family team at Eric Robinson Solicitors are able to assist you in your divorce, dissolution and / or financial remedy claims. Please contact a member of our team for professional, expert and friendly advice.