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Divorce and Pension Division
How Do You Split Pensions?
Divorce or separation can be emotionally damaging. This damage is hard to salvage. But, what you can salvage is financial aspect. The pension is one of the biggest assets that can secure the future of the spouses. So, there has to be a fair division of the pension between them because the future of their children also depends on that to some extent.
There are several ways you can divide the pension among you and your would-be ex-spouse. We, at Trusted Mediators, compare thousands of pensions and after that provide the best solution for our clients. So, if you are facing difficulty regarding the division of the pension on divorce then feel free to consult us. We will provide you the best and experienced financial advisors who have years of experience behind their back on handling sensitive and confidential issues such as divorce.
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What pensions you can split will depend on where you live in the United Kingdom while getting the divorce or dissolving the civil relationship. If you are in England, Northern Ireland or Wales, the total pension gathered by you and your spouse throughout your lives will be taken into consideration while splitting the pension.
The amount accumulated by both of you throughout your life will be taken into account. Whereas, if you are in Scotland this calculation changes drastically. The total value that will be taken into consideration would be the amount of pension you and your spouse accumulated after getting married or getting into the civil relationship.
This will mean that not anything you have set up before marriage or after the separation will be taken into account. Generally, few of the pensions you could have to split will include Personal pension schemes, pension schemes you have accumulated through your life while working, the additional pension of the state (except the basic pension of the state), etc.
The rules of splitting the pension in case of divorce are really complicated. Judging by the legality, it becomes more complicated and confusing too. For someone who has no prior knowledge of handling such cases can be difficult to cope with such legalities. In this case, you need the help of a professional.
However, you may look to do it by yourself. But, the case of separation is so complicated due to the emotional entanglements that splitting the pension fairly becomes next to impossible. Thus, taking help of the professionals can really smooth up the process.
Why Should You Choose Trusted Mediators?
We, at Trusted Mediators, provide qualified and well-trained financial advisors who can solve these confusions and complications easily enabling you to get all matters settled quickly and without any harm done both financially and emotionally. Remember, divorce has a lot of negative emotions behind its back.
You would not want to trigger that up in public. That is why; our trained advisors will help you sort the matter out of court peacefully without triggering any negative emotions. Our pension experts have a long experience of working with couples who are seeking a divorce. So, because of the experience, they are able to understand their situation better than anyone else.
They also know how sensitive and emotional these matters could get and that is why they will look to keep these matters as much confidential as possible.