A research report by the Manchester Institute for Collaborative Research on Ageing has revealed the stark difference in pension wealth between married men and women.
The report showed that considering the age group between 55 and 64, married men have more than three times the pension wealth of married women. Moving on to the group aged between 65 and 69, we find that married men have more than six times the pension wealth of married women.
These stark differences demonstrate how important it is to properly consider the different levels of pension wealth within a divorcing couple and to put pension sharing at the centre of financial negotiations. However, official statistics indicate that only 12% of divorces result in any pension sharing. Furthermore, a number of studies have revealed that divorce pension outcomes are often unfair and that the way in which pensions are valued in UK divorces differs widely from case to case.
All of the above demonstrates how important it is to take financial advice right at the start of the divorce process.
For more information, see our Divorce – How We Can Help Page
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