Women are at a higher risk of being worse off in retirement following a surge in divorces that avoid using lawyers
“Time and money spent getting expert advice at the time of divorce, especially if one party has substantial pension rights can make the difference between a comfortable retirement and one struggling to make ends meet.”
This means there is a risk that some female divorcees will be worse off in retirement – unless they have considered their pension carefully. “The initial figure for the value of a pension at divorce might not reflect the true value of that retirement income, particularly for public sector schemes, which pay an inflation-proofed income for life,” he explained. “A £100,000 pension is more often than not far more valuable than £100,000 of a house’s value.”advises those planning a DIY divorce to have any proposed asset split checked by a professional, to ensure the split was fair, particularly regarding pension assets.
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