Learn about the pension rules that apply when you're going through a divorce.
Through employee contributions, income tax, and personal contributions you may accrue pensionable benefits over your career. When you enter a marriage or civil partnership there can be legal consequences that may impact your pension.
Many couples get married to convey their commitment to each other. However, marriage also has legal implications. If a marital union dissolves, the court granting the divorce may split their financial assets - including any pensions accrued. The court order which defines the division of pensions is known as a Pension Sharing Order (PSO).
Pension Offsetting's one of the options available to you when you're splitting assets in a divorce or when you're dissolving a civil partnership. Pension Offsetting means each party uses the value of their pension to offset against other assets such as property.
When you get a divorce, you may find financial assets being discussed in court. A pension can be one of the biggest assets. One way of dividing it up is through Pension Attachment or Earmarking.
Divorce can have a significant impact on your finances, including your pensions. Find out how divorce affects your State Pension and learn about protected payments.