Pension on Divorce Expert
Pensions can be among the most valuable assets in a divorce, usually second only to the family home and sometimes even more valuable. Furthermore, one spouse in a divorce may have much more in pension assets than the other – who may face a major loss of retirement income.
Accordingly, pension rights will need valuing in order to determine the total value of assets available for division. The proposed division of assets between the parties may need to take into consideration what level of pension income each may expect to enjoy when they reach retirement. If a pension sharing order is to be made to transfer part of a pension of one party to the other the percentage to debit to that party will need to be determined and the pension that should be able to be secured by the other party receiving the credit will need to be determined.
The Family Court is aware that expert evidence will be required if the division of assets is to be determined fairly and that any pension sharing order made is appropriate, with the consequences fully appreciated. Pensions are complicated and evidence is required from an actuarial / pensions expert.
Often the Court will require that a single joint expert is appointed but there may be occasions when the Court will agree to each party appointing its own expert.
It is essential that the parties and the Court must be able to depend on the impartiality of any expert report that it is to consider – the same principles will therefore apply as apply to any Expert Witness service.
Congruent is experienced in dealing with the wide range of pension schemes that can arise and with the requirements of the Court.