The following Family Q&A Produced in partnership with Chris Bryden of 4 King’s Bench Walk provides comprehensive and up to date legal information covering:
The division of pensions in financial remedy proceedings can be extremely complex, particularly if the pension provision is significant or one which is difficult to value, such as a police or armed forces pension. It is often the case that parties overlook the need to obtain expert evidence at an early stage, leading to delay and increased cost.
The treatment of pensions in financial remedy proceedings as a resource has also altered in recent years, particularly since the pension freedoms introduced in 2014 enabling parties to draw down capital subject to qualification requirements. The treatment of pensions in this way is illustrated for example in JL v SL (No 3) in which Mostyn J utilised notional capital from a pension to fund a Duxbury calculation, based upon the assumption that the wife would draw down capital at age 55, rather than purchase an annuity. This contrasts with the earlier approach
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