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  • Pension split

    Just curious to hear from those who have been thru this process. How long is considered reasonable for it to take for a pension to be split via a form T2220? I initiated this process in December/January and have yet heard a thing. The company who holds the registered savings will not disclose the status of the transaction with myself or my financial representative for privacy reasons (which I can appreciate) and my ex has not responded to our request for him to inquire. The pension split was included in our final divorce order.

  • #2
    When I split my RRSPs it took 5 days from the time they received the paperwork until the time it was done.

    They told me 5 days is the max. Not sure if that's different from company to company though.

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    • #3
      Oink... Not sure how to honestly and concisely answer your question but in my personal case A period of almost 10 years past between date of separation and receiving my divorce. About 8 of those years were spent "negotiating" despite us having no real issues or assets to speak of.

      The problem as I saw it was that I had an ex spouse who did not participate in the process. He did not respond to communications and/or provide disclosures when requested and I had very limited funds to pay lawyers. By not being actively involved, my ex never "fought" for custody or access. He was given what he asked for so these issues were settled easily. My difficulty was and continues to be obtaining financial disclosure from him. It simply came to the point where I could not in clear conscious continue "wasting" the amounts of money I was paying my lawyer. I needed to move on and start building some stability for myself and my children. Yes, I personally think a lot of things "suck" and are not "right" but in the time my divorce finalized last January I have been able to start a retirement savings plan for myself and a registered disability plan for my youngest child. I
      ultimately decided to "smile and walk away" (something I wonder if I should have done earlier) with the optimistic hope that one day I will receive the few things included in my divorce order, one of which being the pension split which was granted in lieu of equalization.

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