Question: What about splitting my spouse’s pension?
A Court can order a spouse to satisfy an equalization payment by transferring a lump sum out of a pension plan if it is appropriate to do so, as per sections 9 and 10 of the Family Law Act. In making the determination about the transfer to one spouse from the other’s pension plan and the amount to be transferred, if any, the Court may consider the following factors, among other things:
- The nature of the assets available to each party;
- The proportion of a spouse’s net family property that consists of the value of his or her interest in the pension; and
- The resources available to each party to meet their needs, and the desirability of maintaining those resources.*
*This brief summary is not meant to be relied on as a complete source of information on this issue.