10 January 2012
Pension reforms 'putting divorce plans on hold'
Prospective reforms to the UK's public sector pensions system are causing many couples across the country to delay divorce proceedings.
That is according to Fraser Smart, managing director of Buck Consultants, who believes thousands of people are putting plans to break-up on ice due to the ongoing uncertainty surrounding possible changes being brought about by the government, the Press Association reports.
January is traditionally the busiest time of the year in terms of separations, but many cases are being held back because individuals want to be sure what the situation is regarding their pensions before resolving their dispute legally.
During the process of divorce, courts require all relevant financial information from couples prior to making a decision on how assets should be divided, but this is difficult at the moment due to the lack of clarity surrounding pensions.
This comes after figures from the Office for National Statistics released last month showed there was a 4.9 per cent hike in separations in 2010 compared to one year earlier.
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Posted by Chris Stevenson