Pensions - Articles - Divorce day don’t let your pension be the forgotten casualty


As the first working Monday of January, commonly known as “Divorce Day” approaches, Moneyfarm is calling on couples to ensure pensions are not overlooked during separation. With retirement savings often representing one of the most valuable assets in a marriage, failing to address them can have long-term consequences.

Carina Chambers, spokesperson for Moneyfarm, warns: “Divorce isn’t just about dividing what you own today, it’s about safeguarding the life you want tomorrow. Too often, pensions are overlooked in the process, yet they can be one of the most valuable assets you share. Ignoring them could mean sacrificing decades of financial security. Even small differences in fees or entitlements can compound into tens of thousands over a lifetime. So, as you navigate the emotional and practical challenges of separation, make sure your pension isn’t the forgotten casualty. It’s not just the current number on a statement, it’s your future.”

Moneyfarm’s has a helpful guide on Pension Sharing Orders which highlights how these legal arrangements can provide a clean break and ensure both partners retain control over their retirement income.

Carina added: “The decisions you make during divorce will echo for decades. While property and savings dominate discussions and your home especially has emotional value, pensions quietly hold the key to a happy and secure future. Overlooking retirement savings could mean losing out on tens of thousands of pounds. Take control now: understand your rights, seek advice, and make pensions part of the conversation.”

Key advice from Moneyfarm:

Request a Cash Equivalent Transfer Value (CETV) early in the process
Consider a Pension Sharing Order for a fair and clean division
Factor in charges and entitlements—small differences can compound significantly over time

A handy guide can be found here

 

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