Canadian military pension

[Lois]

Hi. Any advice re Canadian military pension? I am the spouse. My lawyer has proposed that I accept proceeds from matrimonial home instead of splitting his pension. Amount on paper, right now, looks equal, once Notional tax is taken into effect.
Any words of wisdom? Thanks

[NBDad]

Well, you won't get the pension until he retires. (unless he's retired already). Your choice works out to get the money now, or get the money either later, or in smaller payments.

Without knowing the details, I can make a very general statement that properly invested, the lump sum could possibly yield more than the smaller payments over a longer period of time.

It's going to depend on the situation, everyone is unique. Maybe book some time with a financial advisor to go over the financial options and see what they can recommend.

[Lois]

yes, he is retired and working on civie st. he is getting pension payments monthly, already. I would have to take the 50% estimate from his pension and put into RRSP that would enable me to take monthly or annual sums from it.

[NBDad]

A financial advisor would be able to help you run the figures and help you come to an informed decision.

It's apples and...apples....I don't see how it makes a huge difference either way. But I'm just some guy on the internet, you probably would benefit from some financial advice from a professional. Depends on how much coin you are dealing with, if its any significant sum, you want to do your own due diligence.

[ONdad]

But I'm just some guy on the internet

I think of you as much more than that. To me, you'll always be the guy on the internet...

[Lois]

Thanks. Have appt.

[Lois]

Another question. my lawyer told me that in Ontario gifts between spouses were not subject to the 50/50 split of house contents. My " husband" wrote tonite that his lawyer says they are. Who is right?