According to a report publicised by Age UK, thousands of pensioners are missing out on pension provision that would have helped them in retirement.
As part of any divorce in England and Wales, pension provision in the sole name of one spouse is an asset that can be claimed against by the other. Particularly in a long marriage, the Court would normally consider that each spouse be equally comfortable in retirement and can remedy any inequality. Methods available include making a pension sharing order or pension attachment order so that funds are received directly from the pension company instead of an unwilling ex. Yet many people are not being encouraged to claim against a pension which ought to be shared. Age UK have rightly identified that sadly a lot of people are being let down.
At Howells, Clients are always encouraged to exercise their right to seek full and frank financial disclosure from their former partner to claim their fair share of any available pensions. Pensions are a complex area and as such it is vital to have expert legal advice to ensure you know what you are entitled to.