Who are PAG and why should I care?

The Pension Advisory Group (PAG) is a UK-based working group set up to agree on best practices and to guide industry professionals how to analyse and value pensions in divorce cases.

Who They Are

The PAG is made up of experts in pensions, law, and financial advisory services. A range of professionals, including pension specialists, solicitors, and financial advisers, all of whom have significant experience in the area of pensions and divorce.

What They Do

• Provide guidance on pension valuations: The PAG sets out best practices for valuing pensions during divorce cases and how best to share them, ensuring that pensions are treated fairly for both parties

• Support to divorce professionals: They discuss key topics about pensions and divorce, to help legal professionals, financial advisers, and courts navigate pension-related issues in divorce settlements

• Develop standard approaches: The PAG has developed and published reports and tools, such as the Pension Sharing Order guidelines and pension calculation methodologies, to help standardise pension sharing in divorce cases

The PAG aims to ensure that pensions are dealt with fairly and consistently in divorce settlements and that professionals have the tools they need to manage the complexities of pensions in divorce cases. Their work helps avoid disputes and ensures that both parties receive an equitable share of the pension assets.

Why Should You Care?

When you work with a PODE to get a Pension Sharing report, they will rely on the latest PAG guidelines to work out how to value and share your pensions as well as what should be included in the report you receive.

The Bottom Line

The Pension Advisory Group sets the standard for dealing with pensions in divorce - and if you want to avoid costly mistakes and secure your financial future, their guidance isn’t optional, it’s essential.