The ‘elephant traps’ surrounding pensions on divorce could see a tidal swell of negligence cases against family lawyers unless they get to grips with the true value of a couple’s pensions, warns James Copson, co-author of a good practice guide.
Research for the ‘Guide to the Treatment of Pensions on Divorce’, published this summer by the Pensions Advisory Group (PAG), found that, of the 369 court files studied, 80% revealed at least one relevant pension and yet only 14% contained a pension order.
Concerns around pension advice has clearly struck a chord with family lawyers, with more than 170 solicitors, barristers, and legal executives responding to a LexisNexis/Mathieson Consulting survey on engaging pension experts in financial settlements.
Half of those responding are highly experienced with 15 years-plus PQE and nearly two thirds spend 75%
