Housing Law WeekBerkeley Lifford Hall Accountancy ServicesAlphabiolabsFamily Law Week

Private pension wealth 'biggest asset in millionaires’ divorces'

Succession Wealth analyses ONS data

FT Adviser reports research by Succession Wealth which has found that private pension wealth is the most valuable asset in millionaires' divorces. The wealth planner analysed ONS wealth and assets survey data and the number of divorces in England and Wales, concluding that 550 couples with net financial wealth of £1m or more each will divorce this year. The company's analysis of the estimated wealth of those couples suggests that 43 per cent is held in private pensions and 31 per cent in property wealth.

Ministry of Justice statistics published for October to December 2018 show that in that period there were 2,602 pension sharing orders (representing 13 per cent of the total number of financial remedy orders) and 941 pension attachment orders (4.7 per cent).

For the FT Adviser report, click here.