70% divorced people did not discuss pensions during divorce proceedings
Seven in ten couples do not consider pensions during divorce proceedings, leaving women short-changed by £5billion every year, according to a Scottish Widows research. The research shows that more than half of married people (56%) would fight for a fair share of any jointly owned property, and 36% would want to split their combined savings. Yet fewer than one in ten (9 %) claim they want a fair share of pensions, despite the average married couple's retirement pot totalling £132,000 – which is more than five times the average UK salary of £26,000. In fact, according to the research, more married people would be concerned about losing a pet during a settlement than sharing a pension (13% vs 9%).
"Pension sharing" upon divorce must be considered in all cases where one or both parties have pension funds. It is not always a case of "you keep yours and I keep mine", or a 50/50 split. We can advise and help you understand your position so you do not lose out.