pension

Answer: There are two types of pensions, namely: government (ie. CPP); and private, such as through an employer.

In terms of the government pension (ie. CPP), yes either spouse can apply for a transfer of their fair share of the other spouse’s “credits” under the plan. This will affect the amount of the pension paid once it is “in pay.”

In terms of private plans, such pensions are “property.” They must be valued and included as part of the property settlement, which is know as an “equalization of net family property.” So, yes, both spouses have the right to make a claim against each other’s pensions, as part of the overall property settlement.

(The information provided above is general, not legal advice, as circumstances vary from case to case. Thus, if you wish legal advice that you can rely upon for your specific case, please contact Douglas Briand for a free consultation).