The divorcing couples who fear a struggle to buy food

Divorce is already a traumatic experience – but more than half of separating couples now fear the end of a marriage means they will also struggle to pay for basic groceries in old age.

New research by the insurer Scottish Widows has found that 59 per cent of divorced couples reckon they will only be able to afford a weekly food budget of £54 in retirement – compared to just over a third of those married who believe they will struggle.

With inflation remaining stubbornly high, it means there will be nothing left for those little luxuries in life like a box of chocolates or bottle of bubbly but instead just the basics of bread, milk, eggs, meat, fruit and vegetables.

According to the data collector NimbleFins, we already each spend an average of £44.70 on weekly food shopping and eating out.

Scottish Widows also found that more than a third of those asked about their finances if they were to divorce, said they would not be able to afford to run a car in retirement and would be reliant on public transport, family and friends.

Separation: New research has found that 59 per cent of divorced couples reckon they will only be able to afford a weekly food budget of £54 in retirement

Almost half also said any plans to enjoy holidays abroad would have to be shelved with 46 per cent saying that an annual staycation is all they could afford.

Scottish Widows believes the bleak future facing many divorcing couples highlights the importance of ensuring retirement planning takes into consideration the assets of both parties – including any pension plans.

Pete Glancy, head of pension policy at Scottish Widows, says: ‘About 42 per cent of marriages end in divorce – but about a third of divorcees did not discuss retirement savings and pensions as part of their settlement despite the huge impact to retirement lifestyle.’

He adds: ‘Our research shows that far more needs to be done to make sure pensions are treated as a key component of divorce proceedings. The issue also disproportionately impacts women – as they are more likely to be the ones taking a break from full-time work to look after children and so lose out on pension contributions.’

The number of couples divorcing is also expected to rise due to the introduction of a ‘no fault’ law last year. Divorce can now be granted to couples in England and Wales on the grounds their marriage has irretrievably broken down without the need to attribute blame.

Before April 2022, adultery, unreasonable behaviour or desertion usually had to be given as one of the reasons – or if the couple had spent two years living apart by agreement or five years if one partner did not want the other to leave the marriage.

In Scotland and Northern Ireland, the grounds for divorce have not changed – with an ‘irretrievable breakdown in marriage’ still needing to be blamed on reasons such as adultery and unreasonable behaviour.

But in Scotland, an application for divorce can be made one year after living apart with consent or two years without. For Northern Ireland, it is two years with consent and five years without.

A spokesman for the Law Society of England and Wales says: ‘By replacing divorce grounds that previously assigned fault you are taking away a factor that can create a potentially hostile environment – only making it more likely to be dragged into drawn-out expensive legal proceedings.

‘It enables couples to focus more on how they might equitably divide up their assets.’

A court fee of £593 is required to file for divorce and solicitors’ fees typically cost around £14,500. With legal fees often starting at £200 an hour, the cost per couple soon ramps up when redistributing joint finances.

Despite the home usually being the biggest asset, pensions are often undervalued. There are three main ways to divide up pension pots. Firstly, they can be divided before retirement – though this requires a court order that may cost £2,000.

Secondly, a ‘pension attachment order’ can be made to earmark a percentage of someone’s future pension to the other partner when they retire.

Finally, there is ‘pension offsetting’ where one partner keeps the pension pot but must trade it off against the value of the home.

To get a true value of a pension seek help from a financial adviser – who typically costs £150 an hour. You can find an independent financial adviser by visiting trade body website unbiased.co.uk.