Coping with economic abuse
Understand the signs of economic abuse and how you can help regain control. In this lesson we provide guidance on steps you can take and resources to get further help and advice to protect your financial future.
BackThe warning signs of Domestic and Economic Abuse
Economic abuse is a form of domestic abuse
According to Living Without Abuse, it is experienced by 1 in 4 women and 1 in 6 men in the UK.
Your pension savings are an example of a large amount of money that could be targeted, that could be impacted. So, it helps to be aware and know what signs to look out for.
Is your partner:
- Controlling how your pension is being spent?
- Making you pay your pension into an account they control, or one you hold jointly?
- Coercing you into withdrawing large portions of your pension?
- Spending your pension but keeping their pension for themselves?
- Exploiting your financial dependency on them?
- Keeping information about finances and pensions a secret?
Regaining control
It is never too late to have that first conversation. We’re here to help.
If safe to do so, you should alert your pension provider to any changes to your pensions, investments or insurance, especially if you were unaware of, feel uncomfortable with or did not consent to any of them. This will allow your pension provider to give any support you might need. If your pension is with Scottish Widows this will allow us to provide you with specialist help and support.
Advice Now have a free PDF guide on pensions and divorce: A survival guide to pensions on divorce | Advicenow
If you are in immediate danger, call the police on 999. For support around domestic abuse (emotional, physical or sexual) you can call specialist helplines or contact local services.
Scottish Widows Be Money Well is committed to providing information in a way that is accessible and useful for our users. This information, however, is not in any way intended to amount to authority or advice on which reliance should be placed. You should seek professional advice as appropriate and required. Any sites, products or services named in this module are just examples of what's available. Scottish Widows does not endorse the services they provide. The information in this module was last updated on 8th Aug 2024.