A pension plan is a marital asset, subject to sharing as part of the marital property in divorce law.
A capitalized valuation of the pension must be done; this usually requires the assistance of a pension valuator. The figure the
There is a way, not commonly used, to share the value of a pension which cannot be divided at source and where no other asset can fund the money owed due to the presence of the pension. This is called an “if and when” agreement and requires great care in the drafting of the agreement and life insurance to protect the proceeds, should a spouse die before the other spouse has received all of their entitlement.
Judith Holzman is a collaboratively trained family lawyer who has practiced for over 33 years in the Toronto and York Region area. She has participated in amendments to the Family Law Act (provincial) and the Divorce Act (federal) in the area of religious divorce.