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On January 1, 2012 family law and pension legislation changes came into effect for the treatment of pensions upon the breakdown of a marriage or other spousal relationship.
The new rules, which apply to new cases as well as past cases without a pre-2012 legal agreement covering the division of pension, brought these key changes:
- The Plan is required to calculate the Family Law Value of a member’s pension accrued during the relationship, using prescribed formulae, and provide this to both the member and their spouse/former spouse.
- Immediate settlement of benefits to a former spouse where they and the member agree or are required to divide the member’s pension.
Members, their spouses and the Plan are required to use several detailed forms created by the Financial Services Commission of Ontario (FSCO) throughout the process of applying for a valuation through to instructing the Plan on their decision about the division of pension.
Refer the member to the pamphlet “Your pension and separation or divorce” on our website or provide a printed copy.
Marriage breakdown - previous information
Previous information is provided for reference only and may be out of date. Always refer to the most recent documentation for up to date instructions.
Marriage breakdown (from April 3, 2012 teleconference)
Changes introduced by Bill 133 became effective January 1, 2012. The new process and forms require the Plan to deal directly with members. To date, we have received a few requests for valuations based on the new rules. There have not as yet been any requests to divide a pension.
Updated marriage breakdown information now online (Employer Update 005-2012)
New pamphlet, forms
The CAAT Pension Plan website has been updated to reflect the new process for marriage/spousal relationship breakdown.
Members can be directed to the pamphlet and forms now online
The website updates reflect the new process that took effect January 1, 2012 to comply with changes to family law and pension legislation.
The updates include:
- A new pamphlet designed to guide members through the process
- An updated “Life Events” page with links to the Financial Services Commission of Ontario (FSCO) forms to be completed by the member and spouse or former spouse
If any of your members have questions about marriage breakdown and how it affects their CAAT Plan pension, please refer them directly to our website to access the pamphlet and the forms, or provide them with a print copy of the pamphlet. If necessary, we will contact you to obtain the data needed to calculate the value of the member’s pension.
Here are links to the new web pages, which apply to both active and retired members:
Print copies of pamphlet being shipped
We are shipping a small quantity of the new pamphlet to you for distribution to interested members. Please contact us if you require additional copies. Remember to recycle any copies of the old marriage breakdown pamphlet you have on hand.