Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 02-06-2017, 03:23 PM
Junior Member
 
Join Date: Feb 2017
Posts: 2
pensionquestion is on a distinguished road
Default Equalization/Pension who does the calculations?

Has anyone had experience with dividing a portion of a federal pension to make up a shortfall for equalization ? Who did the calculations?

I have a detailed court order that explains interest, grossing up for taxes etc. but who actually applies all that to the calculations ? Do we pay someone to do it?
Reply With Quote
  #2 (permalink)  
Old 02-06-2017, 07:17 PM
Senior Member
 
Join Date: Aug 2009
Location: Mississauga
Posts: 162
Desperate_Dad is on a distinguished road
Default

I don't know where you're located but in Ontario, the law changed in 2012. You used to have to hire an actuary to value the pension but now the pension plan administrator has the power to value the pension. They basically use the formula in the Pension Benefits Act. They should also be able to tell you how to make the pension transfer happen.

My only advice - Contact your pension plan administrator and go from there.

Or are you talking about the federal government CPP? There is some kit you can get with an application that will instruct the government to divide the pension and they do it for you once you apply.
Reply With Quote
  #3 (permalink)  
Old 02-07-2017, 09:48 AM
Junior Member
 
Join Date: Feb 2017
Posts: 2
pensionquestion is on a distinguished road
Default

We had an actuary value the pension.

What I am trying to find out is who does the calculations for the shortfall ? Part of the pension will cover the shortfall owed in equalization but the ex's lawyer is not agreeing to what is in the court order, I wondered if I need to keep paying my lawyer to argue it or do the pension administrators look at the court order and figure out the shortfall ?
Reply With Quote
  #4 (permalink)  
Old 02-08-2017, 10:30 AM
Janus's Avatar
Senior Member
 
Join Date: Jul 2012
Posts: 1,298
Janus will become famous soon enough
Default

How would a shortfall in equalization be:
A) difficult to calculate?
B) of any concern to the pension plan?


Example:

  • Dad owes $300,000 in equalization
  • Value of pension is $400,000. By law, up to 50% of that can be transferred, so $200,000.
  • Pension plan gives $200,000 to the Mom. Pension plan is now out of the picture, they have done their duty.
  • Dad owes $100,000 to mom, so he pays her in cash or he needs to sell some assets to raise the $100,000 he needs.
I don't get the problem here.
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Post-secondary, 1/3, 1/3, 1/3 calculations mcdreamy Reference 32 01-31-2017 07:56 PM
Should my calculations and spreadsheets be part of the document brief? CycleDad Divorce & Family Law 1 10-23-2011 05:34 PM
Help with calculations please Kimberley Divorce & Family Law 8 04-29-2011 05:01 PM
Can anyone help with the calculations? Chrysalis68 Divorce & Family Law 12 03-24-2011 10:59 PM
Shocking News About Child Support Calculations #1StepMom Financial Issues 8 03-30-2010 06:52 PM


All times are GMT -4. The time now is 11:41 AM.