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  • Pension

    Do I really get 50% of my ex spouses pension for the period we were married? It seems like a lot of money and too good to be true. Will I receive it prior to his retirement and how do they give it to me? Do I have to pay withholding tax on it?

  • #2
    patsy, generally yes, you are entitled.

    How long were you married? And how long have you been separated... or are you already divorced? Do you already have an agreement?


    • #3
      Hello Paris..I was married for 18 years and separated only for 7 months without an agreement yet.


      • #4
        You are entitled to half of his work pension. That is half of the value earned after you married, not the value in the pension before marriage. It's the same scenario for his Canada Pension.

        Did you work during the marriage? He is entitled to half of your pension as well.

        I think the general rule is that when he retires and collects his pension, you will start to collect your portion. Sometimes an agreement can be made to pay out the value now.

        You asked about the home in another post. Due to the length of marriage, you should be entitled to half of the equity.

        You mentioned children. Who has custody of them, and has child support been established?

        eta: maybe I should stick to the original question


        • #5
          The children have been living with me since we left the house but no legal agreement has been established. They are old enough to decide though and he hasn't pushed that issue. He has been paying according to the guidelines set out based on his T4 until 5 days before Christmas when he decided to reduce the amount by $250.00 for whatever gut tells me that he is about to stop paying totally now though....scary stuff since I really can't afford this place without support.


          • #6
            You should try to get an agreement, even if it's just for child support. He has established a status quo by paying the table amounts for the last 7 months.

            It's up to you if you deal with spousal support, house, property, pensions at the same time. Any one of those can hold up the others.

            Child support is probably your priority at this time.

            Don't wait too long on the other issues. There is a time limit (7 years I think) to deal with property and pension.


            • #7
              Thank you Paris!

              So I can be assured that since the house is in both names I will get 50%?


              • #8
                I wouldn't make assurances about anything. And that's 50% of the equity (calculated on the day you left).

                There may be exceptions if it was mostly paid for before you married, but I would think not after 18 years of marriage.

                Do you / did you work during the marriage. Pension for yourself?

                Remember, what's his is yours, and what's yours is his.


                • #9
                  Also doesn't the fact that we changed the house over to both names account for anything?

                  I was off work for 7 years and have only contributed to a pension for 9 years.


                  • #10
                    It doesn't matter if your name was on the house or not. It's the matrimonial home. You are entitled.


                    • #11
                      Thats fantastic if I can only get some credit based on my future financial situation I will be laughing....thanks again for all your help...are you a lawyer?


                      • #12
                        Not a lawyer, but been there... done that. On the other side of the fence though.

                        I keep waiting for someone to jump in and tell me I'm wrong.

                        Don't start counting your chickens. Settling all of the issues can take a long time... years in fact.


                        • #13
                          Well at least if I know what money I will have coming in then I can relax and live while waiting for it...its odd how he can be away on a nice trip while I worry about finances........its almost like he gets to hold my money hostage.


                          • #14
                            Just scooped this from the main page of this site.

                            "The value of the matrimonial home is always divided equally, even if it was owned by one party at the beginning of the marriage."

                            There's plenty of information there if you want to browse around.


                            • #15
                              Thats excellent news Paris...thanks so much!


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