Announcement

Collapse
No announcement yet.

pension value and receiving pension cheques

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • pension value and receiving pension cheques

    A question:

    I had my pension evaluated and it appears on my financial statement as an asset. I don't have this money from my pension provider----this is what they estimate I would get in my lifetime.

    I am getting my pension cheque which also appears on my financial as income.

    The pension cheque is really coming from my evaluated pension.
    In essence I am counting my pension twice on my statement.

    If I chose to give ex part of my pension cheque and not have my pension evaluated I would have a truer picture of my financial situation.

    So it appears I have all this money and I am getting a full pension, when in fact, I only get half my pension cheque (the others is rightly his). However, since I want to "pay" him out, I have to declare the value of the pension for the years we were together.

    How does one truly reflect the numbers????

  • #2
    This is Boston:

    Case Comment: Boston v. Boston

    Comment


    • #3
      the type of pension is critical as far as how things would pan out in the end (there are many "pension sources" - work related or individual insurance, the government - biggest of all, is the why? Disability type vs income/ employment related pension really make the determination. Last you would be checking on is "the double dipping rule" so a ex spouse does not in fact "pay twice".

      Comment


      • #4
        Thanks. I am not paying spousal support to my ex---he makes 3x my salary, but has rights to pension and sadly, my gratuity. It is a teacher's pension. However, in my settlement conference, the judge alluded to the fact that I was set with a pension and she looked at my financial. Well, my assets are "pumped" up, is what I was trying to get at, as she saw my pension monthly salary and she saw "bloated" assets with the value of my pension included as an asset.

        When you look at my statement and see a Yearly pension amount, and then the assets with pension value I don't physically have….then it appears that I am doing better than the man who makes 3 times my salary.

        The judge forgets:
        a. if I hadn't evaluated the pension and, instead, chose to give him part of my monthly pension cheque these hundreds of thousands of dollars would not be part of my assets and my yearly pension cheque minus the half that goes to him--would show how little I would have in post retirement years.

        Right now, the judge looked at my yearly pension (full value) + assets including the full valuation of my pension------ and I look very rich to the judge on paper.
        Reality is-----it is not real.

        Other than verbalizing this to a judge, my paper value is truly inflated.

        And, as my other rants have indicated, the spouse has "hidden" assets, lost a 6 figure number from his RSP, didn't claim an asset---so that it looks like he has less.

        Yes: my lawyer told the settlement conference judge about his financials and it is in the brief and his lawyer admitted maybe their financials weren't so good. It was when the judge said maybe he isn't good with numbers as an excuse…….that it took all my inner strength not to scream at her--are you kidding me.

        So: the question is: other than verbally telling a judge about this "double" documentation on the financials--there is no place to actually correct it on the financial form.

        Comment

        Our Divorce Forums
        Forums dedicated to helping people all across Canada get through the separation and divorce process, with discussions about legal issues, parenting issues, financial issues and more.
        Working...
        X