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The Money and Divorce blog is brought to you by Intelligent Divorce, the new way to get fixed-fee specialist legal advice on splitting your money when you divorce.

Our blog provides illustrated practical guides for those going through the divorce process, plus news on divorce, money and family breakdown.

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22 April 2013

Divorcees need better understanding of pension issues, experts warn


A study commissioned by Phoenix Group, and reported on Family Law Week, has found that after getting divorced one in five (19%) women stopped paying into a pension altogether and a quarter (25%) reduced their savings.

The research also reveals that two in five divorced women (42%) say they are worse off financially after divorce. Additionally, half of divorced women made no contributions at all to a pension scheme whilst married, but only one in six had rights to a pension through their ex-husband.

Further findings were that whist 66% of female divorcees over 40 rely on the State Pension in retirement, only 29% rely on their savings and 12% on their investments. One in five (20%) have no idea at all about their pension provision since their divorce. A 'staggering' two in five (38%) have no idea what settlement they received following their divorce and only 6% received pensions sharing order or a pension earmarking order.

Read more here.