Pensions are an asset that is divided between spouses on separation. What needs consideration is the value of the pension and the available assets in order to take a cash payout. If you and your spouse are close to retirement, you may at that point want to consider taking the pension as it’s paid to your spouse. However, the simple answer is that the pension is property and it is divided.
Evelyn Kohn Rayson is the founder of Rayson & Associates, a Toronto-based family-law firm. She has practiced solely in the area of Family Law since 1991 and belongs to the Ontario Bar Association, the National Association of Women and the Law, the Family Law Association and the Collaborative Family Law Association of Toronto.