Pension Adjustment Orders

Even in the current climate often one of the greatest assets an individual has is their pension.

Pensions therefore have to be given careful consideration and in particular whether a Pension Adjustment Order is required. The benefits payable under a pension scheme are determined by the terms of the pension scheme and cannot be shared or interfered with by agreement between the member and the trustees of the pension scheme. An individual cannot change the terms of their pension scheme. If a scheme provides that a pension is to be paid to a spouse on death even if it is the parties intentions pursuant to terms of settlement that this no longer be the case these intentions may not be taken into account.

It is important to therefore note that whether the parties separate by way of a Separation Agreement, Judicial Separation or Divorce if it is intended that there may any amendment to the benefits under the scheme there must be a Pension Adjustment Order.

This necessitates an application to Court and we are happy to provide this service to our clients.