Pensions on Divorce

Pensions laws are extremely complex and we strongly advise you seek expert advice from the outset.

The court will take into account each party’s pension provision when they consider a financial settlement. How much of the pension taken into account will be dependent upon how long both parties have been paying into their own schemes and how long they have been married for.

Some circumstances will allow for pensions accrued prior to marriage or following separation to be treated differently to the pensions accrued during the marriage.

Three Options For Pensions And Divorce

Option one – Offsetting

A spouse’s claim can be offset against other capital assets. So, for example, if the spouse takes a greater share in the value of the property rather than receiving a share of a pension.

To offset a pension, there needs to be sufficient capital available to fully or partially buy out any pension claims. This option ensures that the lump sum and income element of the pension remain intact.

Option Two – Pension Attachment

A proportion of the pension lump sum and/or pension income or death in service grant is awarded to be paid to the spouse. It is up to the pension provider to make payments directly to the spouse.

This order is expressed as a percentage or fraction of the value of your pension at the date of retirement, which is different to a Pension Sharing Order. A pension attachment order is not popular as the spouse whose pension it is will lose benefits if they choose to remarry.

Option Three – Pension Sharing

A pension sharing order is available upon divorce or dissolution only. A percentage of your pension will be transferred to your spouse, but they won’t be able to draw upon it until they reach the age of 60.

The pension sharing order creates a clear break line. Any contributions made after the pension sharing order will be solely for the person holding the pension and not accessible by the spouse.

As we stated earlier, pensions are extremely complex issues and not everyone will be able to lay a claim to their spouse’s pension. If you would like assistance in dealing with a pension claim, please contact one of our specialists who will be able to advise you.

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We as a company have instructed Integra Solicitors for a number of years now for pretty much all of our commercial law needs. They have advised us on, amongst other things, our £5.5m share acquisition of another children’s care business, multiple commercial property acquisitions and leases, our group restructuring and our shareholders’ agreement. The level of service has never dropped and we would highly recommend Moyen and the team.

Katie Sammonds - Finance Director, Care 4 Children

 

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2018-07-11T11:53:05+00:00

Katie Sammonds - Finance Director, Care 4 Children

 

We as a company have instructed Integra Solicitors for a number of years now for pretty much all of our commercial law needs. They have advised us on, amongst other things, our £5.5m share acquisition of another children’s care business, multiple commercial property acquisitions and leases, our group restructuring and our shareholders’ agreement. The level of service has never dropped and we would highly recommend Moyen and the team.

Integra Solicitors have advised us on various matters from banking to planning. They have provided us with a huge source of comfort as we know they are always there for us and can be relied upon.

Alan Box - Managing Director,  Cold Choice Foods

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2018-07-11T11:54:09+00:00

Alan Box - Managing Director,  Cold Choice Foods

Integra Solicitors have advised us on various matters from banking to planning. They have provided us with a huge source of comfort as we know they are always there for us and can be relied upon.

As financial advisers to some of the most prominent sportsmen and women we needed lawyers who were highly skilled and responsive. Among other things, Integra Solicitors advised us on our shareholders’ agreement and key employment contracts. Complex provisions were explained in simple terms to us and we were made to feel completely at ease all the way through the process.

Mark Tueart – Director, Lift Sport Financial Advisers

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2019-03-19T07:49:00+00:00

Mark Tueart – Director, Lift Sport Financial Advisers

As financial advisers to some of the most prominent sportsmen and women we needed lawyers who were highly skilled and responsive. Among other things, Integra Solicitors advised us on our shareholders’ agreement and key employment contracts. Complex provisions were explained in simple terms to us and we were made to feel completely at ease all the way through the process.

It is refreshing to finally work with lawyers who genuinely understand my business and consequently give extremely pragmatic and cost effective advice. Integra Solicitors spot issues that even I as the business owner did not see and provide solutions. You will be hard pressed to find better lawyers!

Ian Goehler – Founder and Managing Director, White Collar Fighter

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2018-07-11T11:53:35+00:00

Ian Goehler – Founder and Managing Director, White Collar Fighter

It is refreshing to finally work with lawyers who genuinely understand my business and consequently give extremely pragmatic and cost effective advice. Integra Solicitors spot issues that even I as the business owner did not see and provide solutions. You will be hard pressed to find better lawyers!

Integra Solicitors provide a professional service. Goes the extra mile and very knowledgeable

Taufeeq Rauf

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2018-07-06T17:35:54+00:00

Taufeeq Rauf

Integra Solicitors provide a professional service. Goes the extra mile and very knowledgeable

When I was let down by a well-known firm of solicitors, I turned to Integra Solicitors more in hope then expectation. I am pleased to say it was one of the best decisions I have ever made. This is the firm I would recommend, I only wish I had turned to them first.

James Rose – Chief Operating Officer (AIM Listed Company)

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2018-07-11T11:57:43+00:00

James Rose – Chief Operating Officer (AIM Listed Company)

When I was let down by a well-known firm of solicitors, I turned to Integra Solicitors more in hope then expectation. I am pleased to say it was one of the best decisions I have ever made. This is the firm I would recommend, I only wish I had turned to them first.

My bar/restaurant business has expanded significantly over the last couple of years and Integra Solicitors have acted for me on several leases and business sale and purchases. They are highly responsive and really know their stuff. The Integra team were unfazed by acting opposite large firms and were tough in negotiating key points for me in to the documentation. They are my first port of call for anything legal and I would thoroughly recommend their services.

Umar Vanden - owner of Whiskey Jar, El Capo, Bandito Burrito, Behind Closed Doors

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2018-07-11T11:54:39+00:00

Umar Vanden - owner of Whiskey Jar, El Capo, Bandito Burrito, Behind Closed Doors

My bar/restaurant business has expanded significantly over the last couple of years and Integra Solicitors have acted for me on several leases and business sale and purchases. They are highly responsive and really know their stuff. The Integra team were unfazed by acting opposite large firms and were tough in negotiating key points for me in to the documentation. They are my first port of call for anything legal and I would thoroughly recommend their services.

The Integra Solicitors team advised me on the sale of equity and successful exit from a business I was a minority shareholder in. They gave excellent advice and worked hard on my behalf to ensure I received the best deal. Based on my experience, Integra will be my firm of choice for years to come.

Keith Andrews – Retired Professional Football Player and SKY TV Pundit

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2018-07-11T11:57:09+00:00

Keith Andrews – Retired Professional Football Player and SKY TV Pundit

The Integra Solicitors team advised me on the sale of equity and successful exit from a business I was a minority shareholder in. They gave excellent advice and worked hard on my behalf to ensure I received the best deal. Based on my experience, Integra will be my firm of choice for years to come.

Moyen has advised me on my business investments and also on trade mark matters. He is always available, extremely professional and a pleasure to work with.

Junior Hoilett – Professional Football Player

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2018-07-11T11:55:58+00:00

Junior Hoilett – Professional Football Player

Moyen has advised me on my business investments and also on trade mark matters. He is always available, extremely professional and a pleasure to work with.
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