Pension Division under the Pension Benefits Act
Under the Family Law Act ‘property’ or ‘net family property’ includes all an individual’s property including his or her pension. The significance of this is that at the time of separation or divorce the pension is included for the purposes of equalization or division of property. It does not mean that there can be an automatic transfer of part of one spouse pension to the other spouse. Under the Pensions Benefits Act a spouse’s pension will be divided if the Court orders a division and transfer of a portion to the other spouse or if the parties enter into a domestic contract which provides for division of the pension and the transfer of a portion of that pension to the …
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