Pensions - Articles - AXA Wealth on Sir Paul Coleridge's statement


 Following Sir Paul Coleridge's statement on the increase of so called ‘grey divorces' Mike Morrison, head of pensions development, AXA Wealth, comments on the potential impact on retirement savings.

 "A growth in the divorce rate for the over 60s could have a significant effect on the financial plans of the divorcing parties. Pensions will often be one of the most significant financial assets in a marriage (perhaps after the family home) and are therefore available to be taken into account in any financial settlement when couples divorce.

 "What may have looked like it was going to be a comfortable retirement could be drastically changed if one of the party's pension scheme becomes subject to a pension sharing order in favour of the other. In such circumstances, professional financial advice could be vital, and it may be a good idea to take advice even before starting the divorce process to avoid any unforeseen consequences.

 "It is important not to forget the provisions for pension sharing and divorce. A carefully considered retirement plan could be irrevocably disrupted should a couple divorce during retirement."

Back to Index


Similar News to this Story

94 percent view State Pension as an entitlement not benefit
Majority of adults aged 66+ say that Triple Lock is affordable and fair to older generations. Around one in seven rely on the State Pension to provide
Fair play off the pitch
Male players in the English Premier League earn an average of more than £3 million per year, while their female counterparts average around £47,000. T
Why Bitcoin matters to Pension Schemes
Back in November 2024, Cartwright Pension Trusts announced its role in facilitating the first-ever UK DB pension trust investment in Bitcoin. With the

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.