January 9 this year, the first working Monday after the Christmas Break, has been dubbed Divorce Day.

This is typically when enquiries about splitting tend to peak after a fraught festive season; in the past letting agents have typically recorded a rise in interest around this time in January, as one partner seeks temporary accommodation.

The number of divorces has started to tick up – there were over 113,000 in England and Wales in 2021 – and no-fault divorce, introduced last April, enables one or both partners to apply for divorce, and there’s no need for any further blame or recriminations. This is believed to have triggered a spate of divorces for couples in later life, who may have substantial equity in their homes. 

However, in recent research from business consultancy Hargreaves Lansdown, over one quarter of people said they couldn’t cope in retirement without their partner’s pension, with women likely to be more affected by men. 

If divorce happens close to retirement age, then there can be very little time to build up a meaningful pension in your own right if you haven’t already been contributing – leaving you with tough decisions to make about how you will live. 

The options for pension sharing are numerous – the pension can be split between partners on divorce or offset against another asset such as the family home. 

Alternatively, your partner can pay you an income from the pension once they reach retirement, though admittedly this may not be the best option if you are looking for a clean break. If you have adequate pension provision of your own, then you may not need part of your partner’s pension.

Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, says: “The Christmas period can be fraught for many people as they face the prospect of being cooped up with their nearest and dearest for several days. For most people, any squabbles are quickly forgotten, but if your marriage is already under strain then this period can spell the end of your relationship. Enquiries to solicitors tend to peak in the first working week of January as people start planning their escape.

“If you do decide to call time on your marriage, the introduction of no-fault divorces last April should make it slightly easier as there’s no need to give a reason for your decision, such as adultery or unreasonable behaviour. This can also help take some of the venom out of proceedings and can really help couples come to a more amicable settlement more quickly and hopefully save money on costly legal fees.

“However, care needs to be taken to ensure that all aspects of a couple’s finances are discussed as part of a divorce settlement. Assets such as the family home tend to be prioritised at the expense of pensions and this can leave one partner, usually the woman, severely financially disadvantaged.”