Advisers need support with complex divorce advice
Unfortunately a gender pensions gap exists and men are more often than not better off in retirement then women, but divorce often plays a role in this as many do not take into account a partner’s pension.
When going through a divorce the court can make a pension sharing order to provide a transfer from a spouse with a greater pension provision to the one with the lesser. But many people do not know this exists. For example, a 2021 study looking at divorcees aged 55-64 found that men had an average total private pension fund value of £100,000, while women had accrued just £19,000.
On this week's edition of the FTAdviser Podcast, news editor Amy Austin is joined by Andrew Tully, technical director at Canada Life and Rachael Hall, co-founder & director of advice firm Seven Stages to talk about advising on divorce and the splitting of pension assets.
The FTAdviser Podcast is the podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.
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