Divorced women miss out on £5bn in pensions

November 1, 2017 1 comment

family law

Divorced women in the UK could be missing out on as much as £5 billion in pensions every year. In a survey of more than 10,000 people, more than half of married people said they would fight for their fair share of any jointly-owned property in the event of a divorce. More than a third…

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Sir James Munby announces retirement plans

February 13, 2017 14 comments

Family Law

The nation’s most senior family judge has announced plans to step down next year. Sir James Munby, who will turn 69 in July, has been President of the Family Division since January 2013, taking over the role from Sir Nicholas Wall. A spokesman for the judiciary has now announced that he will retire in 18…

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Half of parents choose luxury over returning children

September 24, 2015 0 comments

family life

More than half of British parents would rather maintain a more luxurious lifestyle than have their children move back home. A newly published study found that, on average, parents in the UK are around £257 a month better off once their children have left home for higher education or work. This adds up to £3,084…

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Twentysomethings staying at home affects parents’ retirement

September 4, 2015 0 comments

Over 18s who don’t fly the family nest are affecting their parents’ retirement plans according to a new survey. Canadian bank CIBC polled over 1,000 people who were financially supporting their adult children. Two thirds of respondents said that their children continue to depend on their financial support, with 25 per cent saying they spend…

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Pension warning for divorcees

May 11, 2015 0 comments

Duxbury Tables

Some divorcees may lose out on pension benefits if they are not careful, a financial advice firm has warned. As an unintended consequence of pension reform some divorced people who had a ‘pension earmarking order’ made in their favour could lose out on the money they expect. Such orders can be made as part of…

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Divorce reduces retirement income

April 28, 2015 0 comments

divorce

People who plan to retire this year are likely to be £2,100 per year worse off on average if they have been divorced, an insurance firm has claimed. Prudential publishes annual assessments of the prospects of people planning to retire over the coming 12 months. Its newly published Class of 2015 report cites the average…

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How divorce affects retirement

April 15, 2015 0 comments

divorce, finances

People who have been through a divorce have significantly less money when they retire than those who have not, a new study suggests. According to research from the financial services company Prudential, divorcees who plan on retiring this year are can expect an average income of £15,700 once they stop working, whereas the average income…

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Couple’s divorce costs are “staggering” says judge

August 28, 2014 0 comments

financial settlement

A couple engaged in acrimonious divorce proceedings have spent close to £1.25 million on legal costs, a figure described as “staggering” by a High Court judge. In US v SR, the couple divorced after a 13 year marriage. The husband is British and now semi-retired, while the wife is Russian. They had three children, all…

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