Pensions are often the biggest asset any party to a dissolution of a civil partnership or separation has. The benefits of a pension fund could be lost on dissolution or separation if no action is taken.
The last few years have seen a rapid decline in the country's economy. This has had a significant impact upon house prices, savings, investments (i.e stocks, shares, ISA). As a result a party's Pension fund is often the most substantial asset they have.
When parties are dissolving a civil partnership, then the potential benefits of a pension may be affected or lost completely if expert advice is not obtained.
The law in relation to Pensions is complicated but in simple terms, the court has the power to make an order in relation to any party's pension fund. The main orders it can make are:
- A Pension Sharing Order
- A Pension Attachment Order
At Paul Ireland Solicitors we have a wealth of experience in dealing with the issues surrounding Pensions when a civil partnership breaks down. We have provided regular advice and seminars to:
- The Police
- The Fire Service
- The NHS
- The Armed Forces
- Trade Unions
We also work closely with Pension Actuaries to ensure that the correct approach is taken and the right advice given.
It is important to know that a valuation given by a trustee of a Pension fund can often be inaccurate.