Over 50 pension worries if separated
Over 50 pension worries if separated are highlighted today by new advice to the government by experts to consider increasing the state pension age according to Cheshire divorce solicitors Stonehewer Moss. The accumulation of enough capital to fund retirement is made more challenging by divorce for some. As anyone over 45 can expect a state pension at 67, they are nevertheless a generation who still can consider fairness of pension distribution in divorce; younger people are less likely to marry or accumulate a pension pot. Michael Brennan, the right side of 45 for pension purposes, is experienced in divorce finance cases and recommends anyone worried about their economic future aged 50 plus to consider the following approach to help lessen Over 50 pension worries if separated :-
1. Visit the MoneyAdviceService web site and go through the pension calculator. All you need is basic information including current contribution and the current value of the pension pot. You might as well put in the value for your spouse at percentages of the value to see the effect. The anticipated retirement date can be chosen by you.
2. Seek advice from an experienced divorce solicitor for advice on the options about pension distribution if separated in the context of all the assets created by the two of you.
3. In some instances, consider specialist IFA advice about reaching your pension goal.
4. Think of your future needs and how you can fund it coming out of a long marriage. For example, is now a good opportunity to re train and achieve a modest earning capability you can sustain with enjoyment to state retirement age, supplemented by the pension pot created in the marriage.
Over 50 pension worries if separated need not be insurmountable if a reasoned approach is taken, hand in hand with a principled negotiation of the issues to achieve an amicable settlement. Fairness is the bedrock of the divorce process.
For advice negotiation and representation in divorce over 50 in Cheshire please call 01606 872200 or email Michael.firstname.lastname@example.org visit www.stonehewermoss.co.uk to read further blogs in the news section.
Tags: amicable divorce