In this episode, Kate was joined by Clare Reilly from PensionBee and Anna Dunne from amicable to discuss pensions on divorce.
Clare is Chief Engagement Officer at PensionBee, a leading online pension provider. PensionBee's mission is to make pensions simple so that everyone can look forward to a happy retirement. It helps consumers combine, contribute and withdraw from their pension, all in one place. Clare focuses on helping PensionBee transform the pensions industry to better serve consumers, such as the UK’s first Open Banking - pension integrations and launching one of the UK's first mainstream fossil-fuel-free pensions.
Anna has worked in family law for over 16 years, 11 of which as a family law solicitor. She has a thorough knowledge of dealing with finances upon divorce and separation and oversees the drafting of consent orders at amicable.
In the episode, Kate, Clare and Anna discuss the various types of pensions available to individuals and the key differences between them. They explored the typical issues that might arise during divorce in terms of pensions and the ways in which they can be dealt with as part of a divorce financial settlement, such as off-setting, sharing, and less commonly - through pension attachment orders. They reviewed how overseas pensions offer further complexity when it comes to divorce proceedings as these can be difficult to value and split. They also discussed the decisions individuals need to make when dealing with a pension award in their divorce and the fees which are involved in this.