The number of people divorcing in retirement has risen in recent years. Figures from the Office for National Statistics show that between 2005 and 2015, the number of women over the age of 65 getting divorced rose by almost 20pc, from 4,654 to 5,554. The number of men of retirement age getting divorced increased from 8,059 to 8,697, an 8pc rise, over the same period.
This article gives some great pointers ,pension assets may have to be split .This could well mean that both parties will be worse off in terms of income. Check what level of state pension you are to receive as there could be a difference that may have to be compensated for Mortgage borrowing can be difficult when you are older and even if you can borrow you have to be able to afford the repayments This is aside from any issues re Tax and estate planning..........we at Freeths regularly advise on all these issues as it is important that our clients have a complete financial picture of what life will look like after their divorce