That is just not right – but what can be done about it?
Divorce is such an emotional time and people have so much to think about that they just can’t focus on pensions or for that matter other financial issues. Legal advice is already expensive and adding financial adviser fees to the mix is just impossible for many people.
I have first-hand experience of divorce and as a lifelong pensions expert, I am happy to share my experience with anyone who would like to talk. Let’s just have a 30-minute Zoom conversation at no cost and see where it takes us.
Research from Legal and General found that more than a quarter of women (28%) are giving up pension rights on divorce. For many families, pension assets are worth more than the family home so it’s vital to find out what they are worth and how best to divide them.
Women are already the “poor relation” in terms of pension provision so to allow a divorce to proceed without a fair pension split will leave them in an even worse position. Add to that the fact that women typically live longer and therefore need a larger pension pot and it becomes even more important that guidance is taken at the earliest possible stage of divorce discussions/negotiations.
Leaving it up to solicitors to sort out will only increase conflict and build even larger legal fees. All I suggest is that you have a chat with someone who has been there and done it and has the experience to guide you through this minefield. Use this link to get in touch with me.
This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122