Pensions Solicitors Ireland
Blanchardstown, Castleknock, 27 Upper Mount Street, Dublin City Centre
Pensions
A pension can be one of the most valuable financial transactions of your lifetime, yet in our minds, it tends to be a background consideration. As you navigate a family law matter, planning for your future becomes imperative and this in turn means a review of pensions. This is where our Pensions Solicitors in Ireland can help you.
If you or your spouse/civil partner/qualified cohabitant have been contributing to pension arrangements for some time, pensions could be a very significant in terms of your family assets.
Some pensions have valuable death in service or death in retirement benefits which need to be assessed and reviewed, these are known as contingent benefits. If you have children, you may wish to consider how these contingent benefits will operate on death of either you or your spouse and this must be assessed in terms of your pension scheme. Only a Court Order can vary pension rights, a pension cannot be shared out without a court order, in this respect a separation agreement cannot vary pension rights and in this respect a Judicial Separation or Divorce application is required.
Frequently Asked Questions of our Pensions Solicitors in Dublin, Ireland
What happens to your pension in a divorce?
Pensions can be complicated assets, and in turn family laws contain a complicated system for dividing up pension benefits.
One solution is to leave the parties’ pensions alone but to change the way other assets are shared out.
It is open to the Court to make specific Pension Adjustment Orders, these can be nil orders, leaving each with their own pension absolutely, or they can effectively give rise to pension splitting, or earmarking of pension benefits. The Pension Adjustment Orders can deal with both the retirement benefits in this way, and the contingent benefits (i.e. death in retirement, death in service benefits), and it does not always follow that these different types of pension benefits are treated identically.
If the pensions are valuable assets, the assistance of a pensions actuary to conduct a pensions comparison report and valuation may be required to assess the true value of the assets.
Can a spouse get a pension in a divorce?
These are known as a ‘Pension Adjustment Orders’ (PAO). At the conclusion of the case these Court Orders are servced on the trustees of the pension scheme of which either the spouse /civil partner/ qualified cohabitant is a member, requiring the trustees of the pension scheme to pay a proportion of the pension benefits to the other spouse/civil partner/ qualified cohabitant or the Order can be for the benefit of a child or dependent member of the family.
These type of remedies tend to be limited to the duration of the marriage and to the date of the order only. Pensions are complex and our pensions solicitors in Ireland are expert at guiding you as you progress with regards to review of such matters.
Alternatively other financial remedies may be used to balance the pension asset (such as financial orders, property adjustment orders, maintenance orders etc.)
Do I have to declare a pension in a divorce?
Yes, like any asset, non disclosure will only cause significant problems down the line. Also bear in mind by default the terms of your pension scheme may already be providing a contingent benefit to your spouse that you may wish to vary. Not disclosing a pension could cause you (or your family after your death) considerable bother on a variety down the line. For more information on this get in touch with our Pensions Solicitors in Ireland.
We are not married, we are a non marital couple separating, does that mean I cannot make a pension type claim?
The law recognises that non marital relationship breakdown does occur and under the Civil Partnership and Cohabitants Act 2010, a qualified cohabitant is an adult who was in an intimate and committed relationship with another (whether of the same or opposite gender), and who immediately before the time that the relationship ended, was living with the other adult as a couple for (i) a period of two years or more where they are the parents of one or more dependent children and (ii) for a period of five years or more in any other case.
There is no provision for the making of an order in favour of a
dependent member of the family in such cases. It is possible for qualified cohabitants to enter into an agreement between themselves to provide for financial matters during the relationship or when it ends, through death or otherwise and to ‘opt out’ of the ability to apply for pension adjustment orders. For more information contact our expert Pensions Solicitors in Ireland for more information.
I do not have a pension, what does that mean for me?
Even if you do not hold a pension, your spouse might, so while your actual (or what is called at law ‘direct’) contributions to the pension funds may have been nil, you may have been indirectly contributing towards these assets by work in the home that enabled the direct contributor accumulate the asset.
Given that your circumstances are changing it is worth spending time in any event considering your future planning and financial needs. At Carmody Moran we recognise this is an important component of your family law case and your legal advice needs.
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What next?
If you would like to discuss any of the issues around separation agreements, divorce, or relationship breakdown arising from marital breakdown or cohabiting breakdown, above, please contact us to speak with one of our reassuring family law and pensions solicitors in Ireland about how we can help by email [email protected] or telephone (01) 8272888.
For Pensions Solicitor in Ireland for Separation Agreements and further information on separation agreements in Ireland please feel free to telephone our Family Law & Pensions Solicitors at the office on 27 Upper Mount Street in Dublin City Centre on 01 827 2888 or use the quick enquiry form.
Your Expert Pensions in Ireland Legal Team
At Carmody Moran Solicitors in Dublin our experienced family law and pensions solicitors in Ireland are on hand to advise and skilled in handling all nature of separation agreements.
The two partners of Carmody Moran Solicitors in Dublin have a combined total of in excess of twenty five years professional legal experience. Together with their associates they as solicitors for separation agreements aim to make the Court process as straight forward and navigable as possible while being on hand to alleviate their clients concerns and worries about going through the Court process.
Anthony Carmody
Anthony Carmody is one of the founding Partners of Carmody Moran Solicitors.
He has significant experience in personal injury cases and general litigation having handled literally thousands of cases on behalf of clients based in Ireland and abroad.
Niamh Moran
Partner
Niamh Moran is one of the founding partners of Carmody Moran Solicitors and is a solicitor with wide ranging experience across all areas of general practice.
Niamh manages the family law, conveyancing in Dublin, and probate divisions of the practice. Niamh’s practice of law is extremely varied and she is regularly sought out for her expertise by clients and colleagues alike.
*While we have made every effort to provide accurate information, the law is always changing and it affects each person differently. This information is not a substitute for specific advice about you personally and it is not intended as legal advice. We will not be liable to you if you rely on this information. In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement. This statement is made in compliance with Reg.8 of SI 518 of 2002.
You should note that no solicitor/client relationship or duty of care or liability of any nature shall exist or be deemed to exist between Carmody Moran Solicitors and you until you have received a written letter of engagement from us in which we confirm our appointment as your Solicitors.
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