An unintended consequence of the pension reforms is that any divorcee with a pension earmarking order (regularly used before pension sharing came into force in 2000) may need to act fast to protect their retirement benefits.
Any earmarking order which provides the ex-spouse with a fixed percentage of pension income in retirement, should be checked to ensure benefits are protected now under new pension laws now that the member no longer needs to take their pension as an income and can instead take all the cash out as a lump sum.
It is important that recipients of pension orders act fast and take advice to ensure they are adequately protected, especially if their ex-husband is approaching retirement age.
For more information please contact our family law team on 01732 747900 or email [email protected]