Can Spouse claim some of my pension

Fast_Muchly

Hi
I have whats called a very up and down relationship with my wife we have been together ovr 20 years but the last few years have been extremely volatile and although calm now I realise it can change again in an instant.


I have had to stop saving in a private pension for last 2 years due to going self employed but I want to start again I have a pot just short of 80'000 and im 47 yrs old.We have both paid the required nic's to the basic state pension,but again my wife stopped paying these in april this year as she doesn't work at the moment.


She is 43 and has about 40'000 again in a private pension neither of us are saving at moment but we have both worked all our lives.But my wife isn't working at the moment we have a 14 year old daughter.


Basically Im asking i want to start saving again but whats the point if my wife can claim it.Cn she claim it seeing as she will have her own basic state pension and her own private pension that she did save to a few years back.


Thanks in advance

fluffnutter

Do you mean if you divorce? Pensions are now taken into account when assessing assets in a divorce settlement so yes, technically, she could have a claim. Whether or not she's successful depends on lots of factors, e.g. her own pension entitlements, other assets you both have, whether she's put her career on hold to bring up your daughter etc.

Fast_Muchly

fluffnutter wrote: »

Do you mean if you divorce? Pensions are now taken into account when assessing assets in a divorce settlement so yes, technically, she could have a claim. Whether or not she's successful depends on lots of factors, e.g. her own pension entitlements, other assets you both have, whether she's put her career on hold to bring up your daughter etc.

yes if we actually divorced and she hasn't put her career on hold to bring her daughter up.She has had to close her business that was funded by me beacuase of alcohol problems and im picking up and paying the debt from it,we never stupidly registered as a company so couldn't go bankrupt and lose the debt.But she isn't now saving to a pension and i want to restart.But i don't see the point knowing what could happen in the future.

fluffnutter

I think it's probably always wise to save into a pension even if your wife does have a claim. But that's just my personal opinion, I'm no pensions expert.