How are pensions treated in Divorce or Separation?
Under the Family Law Act 1995 the Court has power to treat a pension as an asset of the couples separating, eg. similar to the family home. It can divide the pension in any manner that it sees fit. This is called a Pension Adjustment Order. If you or your spouse has a Pension ,then you should discuss the effects of such an order with us. What is a typical example? No two cases are the same in family law, however in a situation where one spouse has worked within the home for many years and the other has built up a substantial pension, the Court will take this into account when examining the financial position of the parties. The Court can order that part of that pension is paid to the other spouse or to a dependent child.It can split the fund between the spouses into separate pension funds in the name of each spouse. In considering a pension adjustment order the court will take into account all of the assets of the parties. What happens when a Pension Adjustment Order is made? When an a
