- 09 Jan 2025
- •
- 2 min read
The importance of early legal advice in divorce proceedings involving teachers' pensions
By seeking early legal advice, you can protect your financial interests and minimise the impact of delays in reaching a financial settlement, particularly where public sector pensions are involved.
Divorce proceedings and addressing how to divide marital assets, including pensions, can be a stressful and emotionally challenging process. For teachers going through a divorce, the current delays in obtaining Cash Equivalent Transfer Values (CETVs) of their pensions can add frustration and prolong reaching a financial settlement. It is therefore important that early legal advice is sought, particularly when pensions form part of the marital assets.
Teachers’ pensions and CETVs in divorce
Pensions often represent one of the largest assets in a marriage. To ensure a fair division of assets, accurate and up to date valuations of pensions is required by way of obtaining CETVs. Without these, it may not, in some cases, be possible to finalise a financial settlement. Unfortunately, delays in obtaining CETVs from the Teachers’ Pension Scheme have become increasingly common due to the “McCloud” judgment which has resulted in more complex calculations being required
The impact of delays on divorce settlements
CETV delays can create significant challenges:
- Emotional stress: Divorce can often be an emotionally challenging process, and being unable to reach a financial settlement due to pension-related delays can exacerbate this.
- Financial uncertainty: Without a CETV, many financial settlements cannot be finalised, leaving both parties unable to move forward with their lives.
Why early legal advice is essential
Seeking legal advice early in the divorce process will help in mitigating these challenges. Experienced family lawyers can provide tailored guidance to ensure all financial matters, including pensions, are addressed comprehensively and efficiently:
- Proactive management: A lawyer can help identify all necessary financial disclosures early, including initiating the process to obtain a CETV.
- Expert navigation: Pensions, particularly those in public sector schemes like the Teachers’ Pension Scheme, require complex calculations. Lawyers regularly work with pension experts to ensure fair division of pensions.
- Minimising delays: Seeking early legal advice and applying for CETVs at the outset, will ensure they are obtained at the earliest opportunity.
Supporting teachers through the divorce process
At Trethowans, we understand the unique challenges teachers face when navigating divorce proceedings and financial settlements involving pensions. Our family lawyers have extensive experience handling cases involving public sector pensions and can provide expert advice tailored to your circumstances.
Contact us today to discuss how we can support you through every stage of the divorce process.
