Pensions hit hard by over-60s divorces

An increase in Saga divorces - between couples above a certain age - could lead to financial heartache, the Law Society has warned, as people find they do not have enough money for their retirement.

Those considering separations have been advised by the society to consider seeking professional legal advice, given the financial implications of divorces taking place at this time.

President of the Law Society Robert Heslett noted that, although such proceedings are no doubt stressful at any time, for those over the age of 60, the stress will be exacerbated by "complicated pension funds and [fewer] working years to build up assets again".

"It is especially important for those who have little experience of the financial side of their lives to seek reliable advice," he said.

Mr Heslett's remarks come after Unbiased.co.uk's recent report into divorce settlements revealed that 36 per cent of solicitors have been asked to enter into renegotiations regarding finished cases in recent months, suggesting that for older people the pain of divorce could be prolonged. ADNFCR-2353-ID-19469602-ADNFCR

19/11/2009 10:21

News category:

Return to News