Pensions on divorce
22 November 2019
Slater and Gordon Solicitor:
Georgina Chase is a family lawyer based in the Manchester Office at Slater and Gordon UK Limited.
Georgina acted for the Husband to resolve the financial aspects in respect of his Divorce. In addition to the former matrimonial home and other assets owned by Georgina’s client and his Wife, Georgina’s client held a valuable pension that he had contributed to for a number of years prior to the parties’ short to medium term marriage.
How Georgina helped:
Georgina worked to provide full disclosure of both parties’ pension provision by way of CETVs (Cash Equivalent Transfer Values). On the face of it, there appeared to be a significant disparity in the value of both parties’ pensions, with the Husband’s pension being more valuable. Georgina and the Wife’s Solicitor jointly instructed an expert Pension Actuary to prepare a report on the pensions.
Georgina ensured that on behalf of her client, the Actuary was instructed to consider the nature of the pensions and their true value, in addition to calculating the pension claim based on the pensions accrued during the parties’ marriage only.
It became clear from the expert Actuary’s report that the Wife’s Pensions were in fact more valuable than the CETVs originally disclosed, due to their nature. Further, by ring-fencing the pension accrued by the Husband prior to the marriage, the Wife was entitled to a pension claim which was significantly less than originally suggested by the Wife’s Solicitor.
Georgina negotiated a settlement that her client was happy with and which allowed him to retain the majority of his pension upon divorce.
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