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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Withdrawing pension before financial agreement

2 replies

Puttingonmybiggirlpants · 14/02/2024 07:52

My stbx has started drawing down his pensions. He is old enough to do so.
we haven’t agreed any finances for the divorce yet. This is his way of trying to make sure he keeps 100% of his pensions. His pensions are worth roughly the same as the equity in our family home.
This is just a continuation of the financial and emotional abuse he has inflicted on me over the majority of the marriage.
I am not old enough to withdraw my pensions and I do not wish to do so and in any case my pensions are significantly less than his.
I know that pensions are not equal £ for £ to house equity or cash savings when making the financial division but as he is drawing down on the pensions in this devious way can I ask for them to be taken into account £ for £. It feels
unfair that I should miss out on both assets now and a comfortable retirement when those pensions were supposed to be for both of us and compensate for me taking out a very long period of time from working to raise our 5 children who we agreed would be home educated until secondary school age.
he has moved to a new apartment and is using the additional income he now has to fund a lavish lifestyle. He will no doubt argue that he needs to draw down on the pensions to afford to live but his salary is more than adequate to house himself if he chose to live more modestly and not in a swanky top end apartment.

OP posts:
Ratatouee · 14/02/2024 10:24

Go see a lawyer asap. Get proof that he’s withdrawn funds after you’d agreed/announced your intentions to divorce. Sounds like he’s intentionally trying to reduce the balance to hide the fact he had the money, before you could get organised re: a financial settlement. A lawyer should be able to advise you of your rights, but act fast before your ex sequesters any more. It may be ‘his’ money, but I would imagine both parties’ pension pots would be considered as part of the overall ‘assets pot’ when weighing up what each party will receive in any settlement. (I’m not a lawyer and am not in the UK). Has he been selling off any valuable assets also? Cars/shares/jewellery/property? If so, maybe mention that to the lawyer too.

Puttingonmybiggirlpants · 14/02/2024 12:30

I spoke to a solicitor about it and they said that without evidence in the format acceptable by the court I was unable to get a freezing order to stop withdrawal of the funds. I am 100% certain he has withdrawn some funds but I just don’t have evidence in the required format.
the solicitor also said that I could ask the court to treat the financial split as though the pension funds were still intact and untouched. But I can’t help feel that he will deny removing the funds and probably try to be economical with bank statements etc when we get to court stage.
this man would happily see his own children on the streets and in poverty than do the correct and legal thing.

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