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Pension Sharing – top 10 pitfalls

Harrogate based Family Law solicitor, Tim Mellors, presents his top ten pitfalls to avoid when dealing with divorce and pension sharing.




1. If you don't obtain up to date figures…


Then you may get a lower percentage of the pension than you are entitled to.


2. If you don't send Form P off to all pension providers.


Then you will be ill-equipped to make informed decisions.


3. If you don't consider the basis on which assets in SIPPs and SSASs were last valued...


Then you will be unable to ensure that the pension value you are working on is current and fair.


4. If you do not check whether the pension has been transferred to the Pension Protection Fund...


Then you will not know whether a final salary scheme is suffering from underfunding and may find yourself in financial difficulties in the future.


5. If you do not check whether the pension fund charges for information and implementation...


Then you may be in for a shock later. Some schemes charge over £3,000 to implement a pension sharing order.


6. If you do not consider setting off a pension against other assets…


Then you may not succeed in achieving the settlement you wish for.


7. If you assume that pension sharing applies when all relationships come to an end…


Then you would be wrong. Pension sharing only applies upon the dissolution of a marriage or civil partnership.


8. If you assume that there can be a pension sharing order without a court order...


Then you would also be wrong. There must be a court order.


9. If you do not obtain advice from an independent financial adviser…


Then you may not know all the pension sharing options available to you.


10. If you do not obtain advice from an expert family lawyer.


Then you will not have someone on your side who understands the complexities and can work with financial specialists to ensure that you get a fair deal.

Tim Mellors is an Partner in our Personal Law Department and is based in Harrogate.

Tim has specialised in the field of divorce and family finance for over 25 years. Dealing with all issues relating to the end of a relationship whether this concerns property, money, inheritance, pensions or children.

For further advice on the above topic or related issue please contact Tim Mellors on 01423 851 126 or ku.oc1716691864.fcl@1716691864sroll1716691864em.mi1716691864t1716691864

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