Divorce could hurt your retirement

By Daily Mail

 

INDEPENDENT NEWSPAPERS A divorce can negatively impact on your retirement income by as much as 13 percent.

London – The cost of divorce can wreck retirement many years after the break-up of a marriage, according to research.

People who have never been divorced can expect a retirement income 13 percent higher than a colleague who has been through a divorce.

It means an extra £2,100 a year – £17,800 rather than £15,700 – to anyone who has kept their marriage intact, or who has never married, according to the survey for the Prudential.

Apart from the costs of supporting a former partner who is bringing up their children, a divorced man or woman faces giving up a share of their pension when they retire through ‘pension-splitting’ arrangements.