It is often the case that pension assets are amongst the most valuable assets to be considered in a financial remedy case. The division of pension assets is a complex area and involves consideration of pension sharing and of the potential for pension off-setting and (less frequently) pension attachment.
Our members are highly knowledgeable in relation to pension issues. Fiona Hay has been involved in pension litigation since 2000 when the law in relation to pension sharing was enacted and is co-author of the leading textbook on the subject. She also sat on the Pensions Advisory Group which published a report in 2019 that is now routinely being utilised by courts and practitioners where pension issues are under consideration.
Members of the Finance Group are able to advise on the advantages and disadvantages of off-setting and as to quantum if that is the preferred approach. In relation to pension sharing our members offer advice in relation to straightforward cases but also cases involving apportionment, income gap, guaranteed annuities, short service career schemes, defined benefit issues, the annual and life-time allowance, future accrual, claw-back and implementation issues.
The determination of pension issues can often be the key to resolving a case and in common with our approach to financial remedy cases generally we aim to advise in such a manner that litigation can be avoided. In the event that litigation cannot be avoided we are renowned for our tenacious advocacy.