Penny Mordaunt, the minister for women and equalities, has announced that the government plans to ensure that women involved in divorce negotiations will be given much better advice about their pension options. The statement comes after it was revealed that only 36% of divorce settlements include provisions for sharing pension assets.

There are several ways to deal with retirement savings during a divorce with the most straightforward option being to award one partner a share of their former spouse’s savings, which can then be transferred to a pension plan of their own.

However, while couples have several options, pension experts say divorce lawyers often lack the knowledge to help their clients reach a fair outcome. The Pension Advisory Group has just published a new best-practice guide for the profession following research showing many divorce lawyers aren’t confident about how to split pensions.

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