Law firm issues word of warning to wives heading for divorce
manchestereveningnews.co.ukAward-winning law firm, Slater Heelis, is issuing a word of warning to wives following the release of Scottish Widow’s ‘Women & Retirement Report 2023’, with some of the findings reflecting what it is seeing in practice.
Most alarmingly perhaps is that 60% of divorced women are on track for living in retirement poverty, meaning they wouldn’t be able to afford even the minimum retirement lifestyle1.
While there are numerous reasons for this, a big one is that pensions are often not considered or shared in the same way as other property and financial assets in a divorce.
For many women, there are some significant financial consequences to failing to consider pension pots on divorce. With mums mainly being the parent who takes more time away from work to raise children, they are already at a disadvantage when it comes to how much money they have committed to a pension pot.
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