Seven out of 10 divorced people did not receive any of their spouse’s pension as part of the settlement, it has been found.
A study by M&G Wealth reveals that 69% of men and 71% of women did not receive any of their partner’s pension. It shows that 6% of respondents did not even know they were allowed to receive part of their ex-partner’s pension, while only 8% said that it had been or would be part of the settlement.
The research reveals a gender gap, with 11% of women receiving part of their ex-spouse’s pension compared to 4% of men. A total of 24% of those aged over 76 had received part of their partner’s pension, followed by Millennials with 15%, Baby Boomers with 8% and Generation X with 6%.
“No-fault divorces in England and Wales were a landmark reform in 2022, and allow for marriages to be dissolved in a less confrontational manner, shifting the focus away from blame to practical decisions instead,” said M&G Wealth pensions expert Kirsty Anderson. “Although this means more attention can be directed to splitting assets, all too often pensions are still overlooked, despite being a valuable, even potentially the most valuable, asset a couple has.”