Valuing Public Sector Pensions upon separation

Following a decision called McCloud, public sector pensions had to be re-considered and valued, and it is taking several months to obtain updated information as the administrators process this, as per this BBC article.

For those with NHS, teacher, police or military pensions in the process of divorce, it may be tempting to try and conclude a settlement sooner rather than later, leaving out the pensions to achieve speedy closure, but this would be a mistake. Pensions can sometimes be the biggest family asset, more valuable than the home, and claims need to be considered once the values are known, and before a settlement is fully concluded. One of the first steps you should take upon separation is to request a pension valuation – anticipate a delay of several months and ‘get in early’!

To speak to a member of our Family Law team about separation and pensions, contact your nearest office.

How To Contact Us:

To contact a member of our team, you can fill in our online enquiry form, email info@fraserdawbarns.com, or call your nearest office below. If you’d like to speak to a member of our team at one of our offices across Norfolk and Cambridgeshire, visit our offices page.

Wisbech: 01945 461456

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This article aims to supply general information, but it is not intended to constitute advice. Every effort is made to ensure that the law referred to is correct at the date of publication and to avoid any statement which may mislead. However, no duty of care is assumed to any person and no liability is accepted for any omission or inaccuracy. Always seek advice specific to your own circumstances.  Fraser Dawbarns LLP is always happy to provide such advice.