05 May 2018, by Taylor King Family Law Solicitors
According to new research undertake by Prudential, a divorcee can expect their annual income on retirement to be £3,800 less than those who have never divorced.
This is important because it highlights the need for divorcing couples to consider their pensions, not only in connection with matrimonial settlement but to make plans post-divorce. The research also revealed that divorcing couples are more likely to retire in debt (23%) although the amount if debt is typically lower than those not divorcing.
It is imperative that couples contemplating divorce understand the long term financial implications in relation to their income in retirement.
We advise all clients where there are pensions in issue, to take independent legal advise from a financial advisor who specialises in pensions.
If you would like to find out more information about the issues raised above, please contact Susan Taylor. 0161 883 0460 or email firstname.lastname@example.org