Pensions and Divorce.

Daveinlincoln

So I'm going through an amical divorce and whilst the divorce has gone through the consent order for the financial side of things has not and has been delayed by covid and lawyers loosing paperwork (long story).
My question for you guys is around the pension side of things.

I have 2 SIPPS...the first with Hargreaves Lansdown worth £53k and the second with Sanlam worth £70k.

The latter was invested in for 2 years when I was in my 20's before I met my ex-wife and I stopped paying into it before I met her too.

The first one was invested in recently.

I agreed with my ex that she should get half of the first pension but not the second as it didn't seem fair to split that....she was fine with this and so on the Financial disclosure paper I just declared the one we will share.

But now I'm worried, when a judge issues a consent order on a pension is it a blanket order for all pensions or just those declared in the financial disclosure?

I know this OP just probably be in the divorce thread but thought I'd ask here first.

I will add that my ex-wife knows of the second pension and agrees that I'm being fair and there's nothing dodgy going on. 

I turn 55 next year and want to merge the 2 pensions into one and drawdown on them, my worry is when I go to draw down on the second one they'll hold back half.

Any ideas?

Brynsam

Financial disclosure means you disclose all information about your financial position. The fact that both pensions would be included in the disclosure documents doesn't mean they have to be shared.

princeofpounds

Disclose them both, or your financial settlement can subsequently be challenged and you can get into trouble with the court. If what you say is true and your ex-wife is not laying claim to the second pension, then the two of you can agree that through your lawyers - so she can receive the proper advice that she can potentially claim part of it - and it is likely (but not certain) that the court will approve that arrangement. Then you can carry on with a clear mind.

Albermarle

To digress - SANLAM - never heard them mentioned on here before . I see on their website they call themselves 'WealthSmiths ' 

tacpot12

Albermarle said:

To digress - SANLAM - never heard them mentioned on here before . I see on their website they call themselves 'WealthSmiths ' 

And if they were based in Stoke-on-Trent, they would be called WealthMongers!