Hello,
It is my understanding that when it comes to splitting Pension Plans and RRSP's, the general rule of thumb is that whatever was contributed by both parties (during the time that they were together) is divided in half.
In my case, I contributed to my Companies Pension Plan while my wife purchased RRSP's.
In the five year period that we were together, I contributed approx. $10,000 more into my plan, than my wife purchased in RRSP's.
It is my wife's contention that I will have to pay her $5000.
My view is that I will not be collecting my Pension until I retire (25 yrs from now), and will not have access to any of this money until then. When I retire she will then receive a monthly pension check based on 50% of the five year period that I paid into while we were together, as well as me receiving 50% of her RRSP contributions for the same period, when she retires.
Who is right, or, are we both off base?
TIA
It is my understanding that when it comes to splitting Pension Plans and RRSP's, the general rule of thumb is that whatever was contributed by both parties (during the time that they were together) is divided in half.
In my case, I contributed to my Companies Pension Plan while my wife purchased RRSP's.
In the five year period that we were together, I contributed approx. $10,000 more into my plan, than my wife purchased in RRSP's.
It is my wife's contention that I will have to pay her $5000.
My view is that I will not be collecting my Pension until I retire (25 yrs from now), and will not have access to any of this money until then. When I retire she will then receive a monthly pension check based on 50% of the five year period that I paid into while we were together, as well as me receiving 50% of her RRSP contributions for the same period, when she retires.
Who is right, or, are we both off base?
TIA
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