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Company Pension and RRSP's

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  • Company Pension and RRSP's

    So...I have been doing a lot of reading up on Pensions and RRSP's and what happens in the event of a break up. I was with my common law spouse for 14 years and have recently split. I was of the understanding that my company pension was safe from hm because we were never married. His lawyer however, feels otherwise. Every letter I receive from them says that if I don't drop my request for SS, they will go after my pension, which he never contributed to! Is this just a scare tactic? How about my RRSP's, which are through the company I work for, are payroll deducted and in a Group plan through Sunlife. Are these safe too because we were never married?? I live in BC. Any comments or info would be great, thanks!!

  • #2
    So you want to claim spousal support, even though you are working and capable of supporting yourself.....and yet don't want to play the equalization game?

    Pick a side and get off the middle of the fence. If you want spousal support, he's going to go after the assets you accumulated during the relationship.

    Whether he's able to do so or not, or whether YOU can claim spousal....you need to talk with a lawyer to find out what the exact laws are in BC.

    The pension and RRSPs are considered an ASSET, and he can try and make claim for 50% of the increased value to be included as such when it comes to calculate equalization. They'd be included on your balance sheet as an asset on your side of things.

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    • #3
      Company Pension Plan

      A company pension plan is a marital asset and has to be divided equally with your spouse if married. I am not sure about common law.

      My ex and I just went through this because my ex husband took one of his pension plans from a previous employer and used it to pay my spousal support. The courts and Maintenance Enforcement (Family Responsibility Office) got very angry with him. The judge told him he would be in big trouble if he did not come clean shortly about his other investments.

      So, in so many words, yeah I think you have to share your pension plan with your ex and he has to share any of his with you.

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      • #4
        I do work but my income is way less than his. I quit a $50,000 year job 2 years ago to move with my common law spouse so that he could pursue his dream job.

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        • #5
          Yes, it doesn't seem right to expect 'spousal' support, yet deny sharing of your pension.

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          • #6
            Originally posted by Hopeless in Hope View Post
            ... How about my RRSP's, which are through the company I work for, are payroll deducted and in a Group plan through Sunlife. Are these safe too because we were never married?? I live in BC. Any comments or info would be great, thanks!!
            Actually I think she might be right that since they are never married, just CL, Company Pension and her own RRSPs should be safe. It's her own 'asset', is it not? For CPP they might divide.

            Check out this link.

            Property Division for Common Law Separation in Ontario

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