Pension in Divorce Advise Please

[Grandad1969]

A friend of mine (74 years old) is about to dragged through a divorce.
What I'm trying to ascertain is whether the pension he is in receipt of is part of the assets that need to be divided up?
And would the CETV of this pension now reduced by a large amount due to his age?
Thanks for the help

It's impossible to answer without the full facts.

You friend needs to see a solicitor.

His wife is perfectly entitled to divorce him if she isn't happy, though. He needs to accept that, it is much less painful (and expensive) to get on with it, than to have to be dragged.

A pension in payment is more likely to be treated as income, so whether it is included depends on whether there are expected to be income transfers.
Gets more complicated if it's in drawdown from a large capital sum ... and provisions relating to widowhood may be worth looking into, particularly if there are age gaps between spouses.
So, yes, it can get complicated even sticking within the pension element without looking at other assets and sources of income.

The actuarial valuation of any pension - whether in payment (or in deferment) takes into account the current age of the individual. The older a person is, the lower the valuation will be, as (all other things being equal) the pension will be paid for less time at the date of the valuation. Thus the CETV will be less at age 74 than a younger age; the exact reduction depends on other factors.

Thanks for the advice. He understands she is entitled to leave, I think he is just disappointed and embarrassed.
It is a very small final salary pension that is ultimately his income, so interesting to here this may not be taken into account.
Really trying to get him to seek legal advice, but he keeps saying he doesn't need that and they will sort out the finances themselves.
This is obviously the wrong way, but at the moment he is adamant.