Sarah was going through a divorce and was aware that pensions would form an important part of the financial settlement, but she did not fully understand their value or how they should be treated.
The Challenge
Her situation involved a personal pension in her own name, alongside both a defined benefit pension and a personal pension held by her former spouse, which made the overall position more complex. She was concerned about achieving a fair outcome and understanding what this would mean for her longer-term financial security.
The Solution
Our adviser, Rebeca, worked with Sarah and her solicitor to help her understand the different types of pension involved and what they meant in practical terms. We explained how the value of the defined benefit scheme compared to other assets, and how different settlement options could affect her long-term financial position. This helped her engage more confidently in discussions around the financial settlement.
The process itself took close to a year, which is not unusual. Legal proceedings can take time, and it is far more important that the outcome is right than that decisions are made quickly. Throughout, Rebeca and the Churchill team provided ongoing support and clarity as matters progressed.
Following the agreement of a pension sharing order through the court, we supported Sarah in understanding the outcome and what this meant for her own retirement provision. We then assisted in transferring her pension benefits into a suitable investment platform, ensuring the arrangement was appropriate for her needs and objectives.
Alongside this, we agreed an investment strategy aligned with her circumstances and attitude to risk. As part of this, we put in place an ongoing discretionary investment management arrangement. This allows us to look after the day-to-day management of her pension investments within an agreed framework, so that her investments continue to be managed appropriately without her needing to be involved in each decision.
The Outcome
Sarah now has a clearer understanding of her financial position and a pension arrangement that is structured, appropriate and aligned with her future needs, providing reassurance as she moves forward.
