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Equalization and Pension

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  • Equalization and Pension

    During the equalization calculations it was determined that my ex spouse is entitled to half my pension. Our separation date is 2014. I have since 2014 still been working and obviously accumulating more pension. Am I correct to say that he will not be entitled to anything I accumulate AFTER 2014? Just trying to see what the future of my finances hold after 2014 and what my retirement will look like.

  • #2
    Yes after date of separation he is entitled to nothing.

    Note though he may also be entitled to cpp credits.

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    • #3
      My ex applied for half of my CPP credits but we were separated eight times during our marriage and he is not entitled to the credits I earned during our various separation periods. He has to his detriment not applied for CPP-D which he would qualify for despite being a millionaire. For child support and spousal support purposes ( he owes me ss) my lawyer is adding in the money he would get from CPP-D to his total income despite the fact he has not applied for it.

      When I called about the CPP credits I was told the intention was never what for a multi-millionaire spouse to line their pockets with this money at the expense of the other spouse who was struggling financially to feed and shelter themselves and the children. He said my situation was uncommon and went against the intent of this law. But I’ll get my money back at equalization.

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      • #4
        My husband was a stay at home dad so he applied for the cpp from his ex as he didnt go for spousal after he supported her career. Took that instead.

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        • #5
          I believe the pension is also subject to FSCO's Family Law Value (essentially, it's an appraiser who comes up with the 'book value' of the pension), and that amount is split in half.

          The pension's 'book value' is as of the date of separation.

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          • #6
            Thanks for the great replies. I had not thought about the CPP credit splitting I was too focused on my work pension that he will get half of due to evaluation.
            I asked my lawyer about this and he says that there is no basis in law to avoid CPP pension credit splitting for either party, even if it is set out in an agreement. It cost me to get this answer from him. Very painful.

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