It is said that January is the 'divorce month'.

The reasoning goes that, having seen more than enough of each other over the Christmas and New Year break, couples decide to split up in January.

According to recent research, seven in ten couples don’t consider pensions during divorce proceedings. Yet the pensions of many couples are frequently the most valuable assets.

At Kymin, we are frequently consulted by solicitors to sort out the pensions in divorce cases.

While some pensions are relatively straightforward, others (for example, public sector schemes) are complex. One of Kymin’s directors, Chris Taylor, specialises in pensions and divorce cases.

Chris said: “Sometimes it is necessary to employ an actuary. This is the person who can accurately value Final Salary Schemes (sometimes called Defined Benefit schemes). Only once a true value has been established can the division of pension assets be fairly made.”

Currently, only nine per cent claim they want a fair share of pensions, despite the average married couple’s retirement pot totalling £132,000. That’s more than five times the average salary (£26,000). In fact, more married people would be concerned about losing a pet during a settlement than sharing a pension.

It is important that everyone – whether single, married or divorced – takes steps to understand their finances and prepare for their independent future should a relationship break down.

Pension sharing was introduced 20 years ago, but it is clear that all too often in divorce, pensions are still not being taken into account properly, if at all.

When you consult Kymin about a pension settlement you will find us both friendly and helpful. It often happens that a close friend or relative will accompany you. We are more than happy for this to happen, as it can relieve the strain that some people feel when discussing what can be a stressful subject. We do our best to make things as simple and stress-free as possible.

Your first meeting with us is always free of charge and without any obligation on your part.

www.kymin.co.uk.