What can the Court do with you or your spouse's pension?
The Court has a wide range of powers to apportion pensions when married couples separate or divorce.
- Pension attachment against pension income.
This works like a maintenance order but is attached to the pension income. The pension trustees have to pay part of the pension income to the pension holder's ex spouse, rather than the pension holder.
- Pension attachment against capital.
Most people's pensions allow for a tax free lump sum to be taken from the fund upon retirement (known as "commutation"). The court can make an order that the whole or a part of any commuted sum be paid to the pension holder's ex spouse.
- A Pension Sharing Order.
The court can transfer all or part of a pension fund to the pension holder's ex spouse.
- An Order compelling the pension holder to take a capital sum from his pension.
- An Order against the pension trustees of a fund to pay the death in service benefit to the pension holder's ex-spouse.
Pension Sharing Orders can only be made within the context of divorce or nullity proceedings. They are not available in separation proceedings. The procedure for obtaining a Pension Sharing Order or a Pension Attachment Order is complicated and we will advise you on how you or your spouse's pension should be treated as part of an overall financial settlement.