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Am I required to divide my pension with my ex?

– moneysense.ca

Am I required to divide my pension with my ex? If I do divide it, how will it affect my pension when I retire?

FPAC responds:

Under the Canadian rules that govern the division of property between married couples who separate, you are required to equally split all assets grown and contributed to during the time of marriage. These assets can include a pension, as in your case.

Usually, when a couple ends their relationship, any pensions are valued based on the date of marriage and the date of separation. That said, there is no requirement for any specific asset to be divided. Instead, the requirement is for the value of “matrimonial assets” to be equalized.

What happens if I don’t want to divide my pension?

Since the requirement is just for the matrimonial assets to be equalized, this means that if you have other equity equivalent to the value of the pension equalization number, you can offer that instead taking from the pension itself. For example, let’s say the value of your pension is $100,000 at the date of separation, and your ex is entitled to half that value, meaning $50,000…

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