News Article

Pensions effected by divorce to change in April 16

Pensions effected by divorce to change in April 16 The state pension scheme changes in April 2016 and orders in divorce known as pension shares will no longer be possible for person starting national insurance contributions from then, with complex transitional arrangements in place for earlier contributions. Those separated from a spouse with significant state pension provision must consider taking legal advice urgently as divorce petitions issued after April 16th may have different outcomes than those issued later. Michael Brennan is a specialist family solicitor at Northwich solicitors Stonehewer Moss, is aware that state pension funds can have a surprisingly high value that may be overlooked by the Court if a person represents him or herself. Michael say, “Pensions in divorce are assets of great importance and can be used on an increasingly creative basis to settle a divorce fairly for the couple. My February newsletter includes an article about how pensions are dealt with in divorce that has been approved by a local expert pension financial adviser, with another recent blog including details of how the new private pension regime works provided by Jamie Phythian of S Walton in Liverpool. It is vital that those separated with significant pension assets or a spouse who agreed to care for the family and sacrificed pension creating years at work gets expert advice as soon as possible. Making bad decisions about pensions in the heat of a separation can have costly consequences in divorce.To find out your pension forecast and capital value complete Forms BR 19 and BR 20 that can be accessed by google search.”

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For help and advice upon financial settlement in divorce in Cheshire please telephone Stonehewer Moss solicitors on 01606 872200

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