Women who divorce later in life are missing out on significant state pension uplifts due to a complex system that may be little understood by advisers, research has found.
Pension consultant LCP said the number of divorces over the age of 60 is increasing year-on-year. However, it added a rule which allows women to substitute her ex-husband's National Insurance record for her own, to get a state pension boost, is not being fully utilised. It said about 6,000 older couples divorce a year. LCP explained the vast majority of these women reached state pension age before 6 April 2016 and come under the ‘old' state pension system, which makes significant provision for divorced women. However, it explained if they divorce after pension age they only get a ben...
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