If
your spousal relationship ends before retirement
SPOUSAL RELATIONSHIP BREAKDOWN
If your spousal relationship ends, your spouse may become entitled
to a portion of your pension accrued during your spousal
relationship as part of the equalization process under the Family
Law Act.
If you enter into a domestic contract or are a party to a
court order requiring a split of your pension you must file a certified
copy with OPTrust. This document must clearly identify how
the pension is to be split.
Pension law will not permit the payment of more than 50%
of the pension benefit earned during the period of the spousal
relationship,
to be paid to your former spouse for the equalization of family
property. If you were in a spousal relationship at the time
you first began to receive your pension (and unless he or
she waived
it at the time), your ex-spouse is eligible to receive a full
survivor pension after your death.
In all cases of separation, you and your spouse should obtain
independent and separate legal advice about your pension rights
and obligations.
Before retirement
If your spousal relationship ends before you retire, your spouse
will be able to receive the same options for pension benefits
as you have when you retire or terminate from the Plan.
If you die
If you die before your pension begins,
your spouse may be eligible for a portion of your death benefit
payable under the Plan,
depending on the terms of the domestic contract or court order,
and subject
to the 50% rule.
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