Pension and RRSP Division - Vancouver Family & Divorce Lawyers

Comprehensive Legal Advice For Dividing Pensions And RRSPs

Pensions and retirement plans are specific types of accounts that are not treated the same way as other assets during separation and divorce proceedings. When dividing these assets, you must comply with some existing legislation, as well as decide upon matters over which you and your partner retain some control.

At Henderson Heinrichs LLP, our family lawyers provide comprehensive legal advice on your legal options regarding pensions and registered retirement savings plans. Based in Vancouver, British Columbia, we will inform you of how current provincial legislation applies to your situation, and how to protect your investments from the outstanding issues in your matter.

Breaking Down Complex Issues

For many couples, dividing pensions and retirement plans boils down to a valuation issue:

How much the investment is worth?
What parts of the investments are excluded?
What is the value of my contributions?
Are there tax implications involved?

To help you understand the decisions you need to make, our legal team will advise you on:

The key legal issues that need to be addressed;
The legal strategies that protect your interests; and,
The risks involved with each outcome.

Customized Legal Solutions For You

In order to meet the different needs of our clients, we make sure that we tailor our approach to your specific situation. In some cases, mediation works best. In others, we may have to bring the issue to court.

Sometimes, clients know very little about this area of the law. In these cases, we provide a comprehensive explanation as to how the law applies to your situation, and how different strategies can affect your long-term goals. For others, we can get right into the complex legal issues. Our lawyers ensure that we personalize our approach to help deliver the information you need to make an informed decision.

Questions? Arrange A Free Half-Hour Consultation

Pensions and RRSPs are crucial to your future. Contact Henderson Heinrichs LLP for effective legal advice on how to protect your interests following the breakdown of a relationship. Call our lawyers at 1-844-669-3500 or set-up a free half-hour consultation using our online booking form.

FAQS

What happens to pensions in a divorce in BC?
If you are a common law or married spouse in BC and you separate, you are presumptively entitled to share in your spouse’s pension earned during the relationship. Pension earned before the commencement of the relationship is not included in the division.
How is pension value calculated for divorce in BC?
Pensions are divided under Part 6 of the Family Law Act. Depending on the type of pension you have, the value of the pension payment is usually determined by the Pension Administrators once they have been given information about the entitlement period for division. The entitlement period is from the date of marriage or cohabitation or when contributions to the pension began, which ever is earlier, to the date of separation.
What happens to pensions if we weren’t married when we separated?
Pensions for unmarried common law spouses in BC are divided under Part 6 of the BC Family Law Act in the same way for married spouses.
Is my Ex entitled to half my pension?
Generally speaking, your Ex will be entitled to an equal share of your pension that was earned during your relationship (common law or married). The exact amount of the payment is usually done by the Pension Administrators. You need a court order or agreement to ensure that the pension is divided properly.
Can my Ex claim my pension even if we were divorced a long time ago?
If you are divorced, a former spouse has two years from the date of divorce to seek a division of the pension. If they have not applied for a division within that 2 years, then they are statute barred from bringing a claim unless the court grants them permission to file a claim after the time limit has expired. Whether that is granted will depend on the reason for not making the claim in time and how long has passed since the divorce order was granted.

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