Recent research carried out by mutual insurer Royal London has revealed that women are receiving less than men in terms of pensions following a divorce.
The starting point when dividing matrimonial assets is a 50/50 split. However, separating couples who want to deal with financial matters swiftly following the breakdown of their relationship often focus their attention on what will happen in relation to the matrimonial home, with little thought about other assets such as pensions, which may have an equally high value.
The average married couple has a pension wealth of £454,000, a 50% share of which would be £227,000 per spouse. In comparison, the average divorced woman over fifty has a pension wealth of just £131,000, indicating that women may not be receiving as much as they would have had they taken professional advice.
The research found it is not the case that women are receiving higher shares of the equity in the house to offset this difference in pension values either, which is something that the Court has the power to order. It seems that pensions are simply not being taken into consideration and women are missing out in the long term as a result.
If you have queries regarding financial matters following the breakdown of a relationship or marriage, please do not hesitate to contact any of our offices and speak to one of our solicitors specialising in Private Family matters.