UK - Demand for pension sharing services has increased on the back of a 3.9% rise in the divorce rate last year.
Jardine Lloyd Thompson said it was not surprised by the National Statistics Office figures, having experienced soaring interest in the work it does for Penfam.
Penfam advises family law-yers, pensions consultants, act-uaries and financial advisers on how best to divide the pension assets in a divorce settlement.
JLT employee benefits business risk manager Nigel Manley said: “The sharing of pension assets in a divorce can be a complex and valuable issue. Penfam offers a much-needed complete service which brings lawyers, pensions experts and financial consultants together.”
Penfam issues a report that sets out the value of the pension rights and suggested options, at a cost of £650 excluding VAT. It is prepared using neutral JLT actuarial assumptions and is designed to be used for joint instructions.
The Department for Work and Pensions (DWP) has launched a website dedicated to signposting people to where they can receive guidance typically associated with a so-called 'mid-life MOT'.
This week's edition of Professional Pensions is out now.
Ben Gunnee reflects on 2018 and talks about the Fiduciary Management trends to keep an eye on in 2019
Lloyds Banking Group secured 630,000 new pension customers last year, according to its 2018 annual results.