I'm currently going through a divorce, and I'm stuck with my pension

28 September 2021

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Question by Mark

My wife and I are currently moving towards a Divorce. I'm retired with a Pension, and my wife works and currently has 3 pensions. My question is as follows. My Pension is higher in CETV value than my wife's three pensions based on her CETVs, and she has requested a 33% proportion of my pension as a settlement. Is this too much based on the fact that she currently has 3 pensions and is only 56.


Answered by Joshua Gerstler

Hi Mark,

Pensions are often shared on divorce, sometimes pre-retirement and sometimes when in payment.

To ensure a fair answer, this would need to be considered along with all the other facts on the divorce settlement, rather than a stand alone pension question.

The sharing of other assets would need to be factored in, along with the living costs each of you are going to incur as well as your wife's earning potential during the rest of her working life.

If everything is being split 67/33 in your favour, then (without knowing the full facts) it would not appear unreasonable to also split the pension this way.

If you would like to discuss this in more detail please feel free to get in touch.

Thanks

Josh

Answered by

Joshua Gerstler

Chartered Financial Planner

I have been working in Financial Services for over 16 years. I started out at Deloitte where I trained and qualified as a Chartered Accountant before moving to Financial Advice/Planning at The Orchard Practice in 2011.