The rules around pension sharing orders are complex and fraught with risk…
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Sarah Hoskinson, Partner at Burges Salmon and Philip Way, Partner at Mills & Reeve discuss the Pension Advisory Group report and latest developments.
The Pension Advisory Group won the John Cornwell award for its ground-breaking guide to what is often the second-largest and most-misunderstood asset on divorce. The Group has now published a version for the lay reader.
This recording sets out reflections on the Pensions Advisory Group (PAG) Report from Pensions on Divorce Experts - chaired by Suzanne Kingston - speakers are Ben Glassman and Mike Francis.
After a lengthy period in the authority desert, pensions on divorce continue to bask in the family law limelight.
When targeting equal pension division, should courts look to create equality of CEs or income? And are non-matrimonial pension rights to be excluded from pension sharing? This case also highlighted the importance of the Pensions Advisory Group report, and debunked the common interpretation of H v H.
Public Sector Pensions have changed over the years, meaning that we now have a number of different sections within each scheme. This can make it confusing when it comes to trying to negotiate a settlement for Pension Sharing.
For example, it is not always obvious at what age a pension credit will be paid and if there are a number of sections to a scheme, will one Annex share them all?
In this article, we take a closer look at the Unfunded Public Sector Schemes – these are the ones that do not have a pot of money behind them, so a Pension Sharing ex-spouse is offered internal membership, rather than an external transfer out.
The ability to benefit from an ex-spouse’s superior national insurance (NI) contribution history on divorce, at no cost to either party, is one of the least-understood areas of pensions on divorce. Yet it can literally be life-changing for lower earners, and it takes only a matter of minutes to explain to clients. This article for The Review explores the issues of this topic.
Clive Weir reports on the latest news regarding the reforms to public sector pensions.
The new 160-page guide to pensions on divorce is “a stiff read”, but given the expertise of its authors, it should be mandatory reading for family practitioners. Mark Penston reports on it for The Review.
When separating you may not be sure what the status of is of your and your partner's pension. This section looks at different scenarios.
On 6 April 2016, radical changes are to be made to the state pension of which practitioners must be aware.
The current state pension scheme (“the current scheme”) applies to those already claiming their state pension and those who will reach state pension age prior to 6 April 2016.
The Pensions Act 2014 introduces a new state pension scheme (“the new scheme”) for those who will reach state pension age on or after 6 April 2016 (ie men born on or after 6 April 1951 and women born on or after 6 April 1953).
The widely publicised pension freedoms were introduced on 6 April 2015 and brought with them a number of unexpected, and almost certainly unintended, consequences for family lawyers and their clients. One of the most concerning consequences is the effect of the freedoms on existing Pension Attachment Orders. This briefing addresses that specific issue.
The issues discussed in this section arise when the financial resources of a couple divorcing in England & Wales include an overseas pension or the family lawyer is contacted by an overseas lawyer to explain that the financial resources of a couple divorcing abroad include a pension from an English provider.
The committee works to educate and inform the membership - and on occasion the wider public - on tax, pensions and financial remedies.