FAQs Financial Provision
What is a financial remedy order?
A financial remedy order may be required if a married couple or those in a civil partnership want to separate but resolve their finances first, then divorce later.
Do I have to share my pension with my ex if I get divorced?
In divorce proceedings, it is important to value all pensions. A pension can change significantly in value from one year to the next, so it is important to have up to date documentation. If one spouse has a more valuable pension pot than the other, the spouse with the lower valued pension may be seek a Pension Sharing Order. Unless that claim can be offset with alternative funds within the matrimonial finances then such an Order will likely be made.
What is a Pension Sharing Order?
A pension sharing order takes an agreed amount of money from one spouse’s pension and places it into a pension belonging to the other spouse. The amount of money to be taken is agreed as a percentage of the paying spouse’s pension CETV.