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How is pension handled?

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Anonymous Asked:

How is pension handled? 50/50

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A Family Lawyer
5 years ago

From a family law perspective, a former spouse or ex-spouse may have a claim against your pension on the basis of trust principles, joint family venture, if the parties are not married; or equalization and the pension would be valued and included in the calculation of the parties respective net family properties, if the parties are married. The first step in dealing with pension issues is to obtain a valuation, either through the administrator or from an actuary, depending on the type of pension. Once the value of the pension is ascertained or determined, the parties may proceed to engage in settlement discussions and possibly end up entering into a written agreement as to the directions to the administrator as to how to handle the pension, i.e., how much is to be transferred and pursuant to what terms and what laws. Depending on the issues in handling the pensions in question, you would either seek information from the FSCO website, if the issues relate to valuations of the pension or from the Ministry of Attorney General website if the issues relate to family law division of pensions. You should consult a family law lawyer of your choosing to further discuss these issues.

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