No. You are still legally married as a Separation Agreement does not dissolve the marriage. To remarry you must first obtain a Decree Absolute through divorce proceedings.
This will depend on its value, what other assets there are, and how long the marriage lasted. Pension values always have to be disclosed, but if you are both young, there are no children and the marriage was very short, you are likely to retain your entire pension fund. However, the court has the power to make a Pension Sharing Order if it seems fair and reasonable in all the circumstances– this means a percentage of your pension fund is transferred into your spouse’s name at the time of the divorce.
No – there is usually a specific reason why the parties do not want to apply for a formal divorce…and that is why they enter into a Separation Agreement, or apply to the court for a Judicial Separation.
You should consider the level of conflict that could arise, for example about trying to agree a way forward on issues such as the family home, maintenance, pensions and any children matters. You need to be confident that you can resolve any contentious issues amicably. If the above matters have all been settled or terms agreed for inclusion in your Separation Agreement then you should have little difficulty in finalising the document with the assistance of a solicitor.
Recent cases indicate that English Judges are increasingly willing to take these agreements into account when deciding the distribution of assets following a divorce.