• How the changes in pension drawdown rules might affect you

    The changes in the pension drawdown rules earlier this year have been well-publicised.  As from April 2015 a person aged 55 or over has the option to draw a tax free lump sum of up to 25% of the value of their pension. While this gives the person holding the pension more flexibility it can have adverse consequences for their spouse in divorce.   There is now a risk that a spouse who reaches the age of 55, prior to a final Financial Order being made, could withdraw 25% of the value of their pension in an attempt to dissipate …

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  • Pensions

    When couples divorce, pensions are often one of the most complicated assets to deal with. Very often one spouse has a much larger pension provision than the other, particularly where one of the parties has taken time out of work to raise children. Sometimes, it may seem as though each spouse has a similar amount of money in their pensions, but because of the type of pensions they have, the values can be misleading. Finding a fair and sensible way to deal with any discrepancies in the pension provision, is not always straightforward. The first step is to work out …

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