It has recently been announced that various Public Sector
Pension Schemes have suspended all calculations of pension values
for the purposes of divorce/separation, pending revised factors for
calculation being introduced.
On a practical level this means that there can be an impact on
the relevant value of pension rights for individuals trying to sort
out their financial affairs following upon a separation from their
spouse or civil partner.
It also means that for those individuals contemplating pension
sharing as part of resolving their financial affairs following upon
separation there may well be a delay in the pension share being
implemented
Finally it may well affect any advice already received about
projected payments to an individual following upon pension sharing
being implemented.
This is a complex area and our Family Law Team are well versed
in dealing with such issues. We also have good working
relationships with leading professionals in the field of pensions
should their expertise be required in resolving matters on behalf
of our clients.
If any of the above affects you please feel free to contact one of our
team to discuss in more detail.