For many people, the years after children leave home are meant to mark the beginning of a new chapter. Instead, for thousands of Britons over the age of 45, they can become a period of difficult choices, where financial concerns make it hard to leave an unhappy relationship.
Our recent research, featured in The Mirror, suggests that financial insecurity is becoming one of the biggest barriers to divorce later in life, creating what many describe as a growing “grey divorce trap”.
When financial security outweighs personal happiness
Our survey found that half of Britons over 45 have seriously considered leaving their partner, while more than half (55%) said they would leave their marriage if they could afford to do so.
Despite this, only 8% say they would actually go through with a divorce.
The reasons are largely financial.
More than a third (35%) worry about how they would support themselves financially after separating. Others fear the cost of divorce itself, the prospect of dividing the family home, or receiving an unfair financial settlement.
For many couples, the emotional decision to separate is closely tied to practical concerns about maintaining financial stability.
Why women often face greater financial challenges
The research highlights an even greater level of financial vulnerability among women.
Nearly four in ten women over 45 say they feel financially trapped in their marriage because they depend on their partner’s income, savings or pension. Overall, almost eight in ten women say they rely financially on their partner to some extent.
This often reflects broader career patterns rather than individual financial decisions. Time spent caring for children or relatives can reduce lifetime earnings, pension contributions and long-term wealth accumulation, increasing financial dependence later in life.
As retirement approaches, these differences can become even more significant.
Pensions remain one of the least understood assets
One of the most striking findings concerns pensions.
Although 39% of respondents believe pensions should be divided fairly during divorce proceedings, 69% admit they do not understand what legal rights they have to their spouse’s pension.
This lack of awareness can have significant long-term consequences.
Unlike cash savings or property, pension wealth is often overlooked during divorce despite representing one of a household’s largest financial assets. Understanding how pensions can be valued and divided is therefore an important part of achieving a fair financial outcome.
Financial planning can make a difference
Divorce is rarely just an emotional decision. It is also one of the biggest financial transitions many people will experience.
Understanding your assets, future income and retirement prospects can provide greater clarity before making important life decisions. This is particularly true when pensions, investments and property form a significant part of household wealth.
As Carina Chambers, Financial Expert at Moneyfarm, explains “Divorce can be one of the most financially and emotionally challenging moments in life, particularly for those who feel unable to leave unhappy marriages because of financial insecurity.
Financial planning plays a crucial role in helping people navigate this uncertainty. Understanding the value of your assets today, how they may grow in the future, and the options available – particularly for pensions – can help people make informed decisions and build greater financial resilience beyond divorce.”
Looking beyond the numbers
The survey also highlights the emotional complexity of later-life divorce.
Many respondents worry about upsetting their children, losing everything they have built together, or simply facing life alone after many years of marriage. Four in ten admit they would not even know where to begin if they decided to divorce.
At the same time, not everyone sees separation as the answer. Around a quarter of respondents say they would prefer to work on their relationship before considering divorce.
Whatever the outcome, one message is clear financial confidence can give people greater freedom to make choices based on what is right for them, rather than what they can afford.
So, are your finances aligned with the life you actually want? Discover it through Guidance+, our service designed to help you evaluate the best investment strategy for you to reach your financial goals and plan for your future.
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