STBX going after CPP... is this possible ?

[plainNamedDad44]

Hi, STBX now appears to be going after my CPP, which I will not even be eligible to collect for another 15 years. Can she do this ??

 

[rockscan]

This would be part of equalization. If she wasnt working and you were, she would apply for half the credits the years you were married.

It is normal. From what I understand though, its not paid out. Its years of credit taken from you and added to her for the period agreed to. When she goes to apply for CPP it will apply those years to her.

Info is here: https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-split-credits.html

 

[dad2bandm]

If you were married for a length of time, then yes, any assets are up for grabs, including pensions.


I'm sure others with more knowledge here, will chime in.

 

[blinkandimgone]

CPP credits accumulated during the marriage get split, as mentioned above. If one partner accumulated less or no credits due to working less or being a stay at home parent, the credits are split to make up the difference for the other person.

 

[plainNamedDad44]

the thing is, I was self employed for almost the entire marriage and accumulated no CPP credits.... as I paid myself through dividends.

 

[standing on the sidelines]

the thing is, I was self employed for almost the entire marriage and accumulated no CPP credits.... as I paid myself through dividends.

If there is no CPP on your end to split then she cannot get anything. Mind you if she was employed then you also get part of her CPP. She may be shooting herself in the foot with this one and lose more then she hoped to gain.

 

[denbigh]

Firstly, CPP is not “yours” it belongs there both of you, just as all assets do. I believe that in most provinces you are required to share the credits on divorce except for 2 or 3 provinces that allow it to not be shared in a separation agreement if the 2 parties agree to that. And you don’t have to agree to that. If you did presumably a similar value item is being traded in the equalization for the credits.

 

[denbigh]

According to that link BC,AB,SK and QC allow couple to agree to not split credits everywhere else you can’t agree to not split. It looks like even if you did write it in a separation agreement it would not be valid and one person can apply to split it.

 

[Janus]

It one person requests to split the CPP, is it also automatically split the other way as well?

eg. If wife asks for half of husband's CPP, does husband automatically get half of wife's CPP, or does he have to make a separate application?

 

[arabian]

It one person requests to split the CPP, is it also automatically split the other way as well?

eg. If wife asks for half of husband's CPP, does husband automatically get half of wife's CPP, or does he have to make a separate application?

yes

Each person will be able to look at the final calculation on the CRA site as long as they are registered. You can see a statement going back to date of your first contribution (job) right up to this year. Statement updates every year.