At O’Donnell Solicitors, we are passionate about providing our clients with the best possible legal assistance during a divorce. That’s why we are pleased to hear about the latest guidance from Trafalgar House, a specialist third-party pensions administrator, urging pension schemes to reconsider their stance on charging fees for Pension Sharing on Divorce.
The latest guidance on Pension Sharing on Divorce recommended an increase in the range of fees charged by pension administrators. While some pension schemes have taken the bold step of waiving these fees altogether, unfortunately, others continue to pass the costs onto their members. This can add additional cost at what is a stressful time.
As research has shown that pensions are often overlooked during financial settlements following divorce – meaning some divorcees do not achieve the full and fair settlement they are entitled to – it’s important that there are no barriers or bad press around pension sharing.
Divorce can be an emotionally challenging time, and the financial implications can be overwhelming. That’s why we encourage our clients to seek the advice of a specialist divorce solicitor, who can help navigate the complexities of the divorce process and ensure that your interests are protected with the help of a Pension on Divorce Expert (PODE).
A PODE is a specialist who can provide expert advice on pension matters during a divorce. They can help assess the value and worth of the pension funds involved in the divorce. By working closely with a PODE and a reputable divorce solicitor, it may be possible to avoid the need for costly fees for Pension Sharing on Divorce.
At O’Donnell Solicitors, we understand that every divorce is unique, and each client’s circumstances are different. Our dedicated team of divorce solicitors will work closely with you to understand your specific needs and objectives, providing you with tailored advice and representation throughout the process.
If you are facing a divorce with pensions involved, please don’t hesitate to contact us today. We are here to help you navigate this challenging time and ensure that you are able to achieve a fair settlement following your divorce.
For more information on this, or any other family law matter, please get in touch.
