pension division

Pension division refers to the process of splitting retirement benefits between two parties, typically during a divorce. When couples separate, the pension earned during the marriage is often considered a joint asset. This means both spouses may be entitled to a portion of the pension, regardless of whose name is on the plan. The division can involve various methods, such as offsetting the pension value against other assets or directly splitting the pension benefits. The specific rules can vary based on legal regulations and the terms of the pension plan.