Nobody ever wants to hear of divorce or ever think that their vows can be broken. However when the dreaded divorce does happen you have to be ready in all aspects, and let your heart get ready.

However when divorce does happen many people always think of the family house and but pensions also need great consideration.

Pension and pension benefits always come later when the process has already started taking place. This is usually a hard knock on their heads as they realize it is much more valuable than probably their houses.

However before deciding on anything you should really do your best to get information on how to separate the pension fairly so that you can both benefit.

Getting the information early will help you know the value of the pension and what to do when dividing the assets.

There are different types of pensions that exist, some are:

Other types of pensions are Public service schemes and Employer pensions.


When it comes to pension sharing, you and your soon to be ex-spouse have a number of options

This is where you decide to trade off a certain asset you and your spouse share. For example, if your house costs the same as your pension, you can decide to either take the house or the pension, so that you do not have to encounter your spouse once the divorce is final.

Earmarking is whereby a share of your spouse’s pension is considered yours. However, you should try to avoid this option as it comes with a lot of baggage. The pension is usually tied to the life of your spouse thus with the death of your spouse the pension also dies.

In addition, if your spouse decides on a specific age in which he/she wants to get the pension, you also have to wait until they reach that age regardless of the circumstances you are in. thus always making you depended on your spouse for life.

Pension sharing is whereby the pension is divided into different ways that you two have decided upon. It is usually the best alternative as you are left depending on yourself and not on your spouse.

However, you should agree on this as quickly as possible so that you can start enjoying the benefits early enough.

When it comes to sharing your pension ensure that you check o all other factors such as money available and other investments made. The pension benefits usually provided by the scheme provide ( cash equivalent transfer value) represent the value of benefits available. However, this usually fails to consider the other investments and benefits available or the spouse’s rights that come with the death of their spouse. It may also fail to acknowledge other minor complications between the two of you thus giving far less than it should be. Thus having a pension audit is the best option as it gives you the best estimate to the real value. This is because there is usually an underestimation on the value given by the CETV. However, doing an audit will also be beneficial as your with drawings will be upped and thus truly get the pension you deserve. Even though divorce is see as a very hard and traumatizing this, try and get your emotions in order first and get your assets checked and divided fairly, thus when you have this you can take time off and grief, you will have something to lean on to.
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Pensions and annuities are important financial tools, but a divorce can have an affect on these. If you are not sure what will happen to your pensions upon divorce, there is some information that will help you understand what is going to happen to you.

First of all, pensions and annuities are very expensive and you don’t want to cut back on your benefits because you are in a divorce. While most couples who get married settle down and stay married for many years to come, this is not always the case. If one of the partners decides that they no longer want to be married, then it is possible that they may be able to get out of their pension plans.

The most important thing to do is to consult with an attorney before taking any action regarding your retirement funds. Even if your spouse agrees to stop paying into your pension plans, you should still ask to see the assets that are owned by the other party before you sign any paperwork.

If the couple decides that they want to get out of the marriage, then they may be able to sell the assets that are owned by each other for a lump sum payment. This is called a division of property and it is legal, however, if the couple were to sell all of their assets, it could be very difficult to continue to pay into your pension plans. This is why it is very important to talk things over with an attorney first before agreeing to any sort of sell off.

Another important thing to consider is the possibility of receiving less money in your initial retirement than you will need. If your pension or annuity is set at a certain amount, this could affect your ability to receive the full amount of the monthly payments that you have been promised. A lot of people think that they will be getting a good return on their investment when they decide to get out of their pension plan, but this is not always the case.

Pensions and annuities are very important financial tools, but the best way to keep them will be to talk things over with an attorney. If you are in a marriage, it is important to make sure that you have as much money as possible to set aside for your children‘s education and future needs.