Knowledge and resources

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.