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When things change

When relationships end

Few people think of their pension when their relationship comes to an end. But, depending on the circumstances, understanding the implications could make a big difference to your pension provision.

Breaking up is never easy. It can be a very confusing and distressing time for all involved It might be the last thing on your mind, but your pension could be affected by your change in relationship. 

For instance, pensions can be included as assets in divorce financial settlements. Couples that don’t prepare for this can find that their expected pension benefits are significantly different once they divorce. It’s important to talk these issues through and to not make any assumptions about what you will get or be entitled to, without checking first.

We receive many enquiries relating to people’s pension entitlements after the end of a relationship, and here you can read about the things we recommend you consider.  We look at the situation for couples who are divorcing or dissolving their relationship and for people who may just be separating for a period of time.We also explain the situation for anyone who is already divorced or has ended a civil partnership, and may not have taken into account pension benefits during the financial settlement stage of the divorce or dissolution.

If you decide that divorce or the dissolution of a civil partnership is the right course of action for you, we would recommend that both parties seek specialist advice from their own solicitor to protect their interests during such a difficult time. It may also be appropriate to take financial advice to understand the implications on retirement income. 

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Where can I find out more?

If you need more information, please contact us. A pension specialist from our team will be happy to help with whatever pensions-related question you have. Our help is always free.