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→3. Pensions and RRSPs
Rights under an annuity, pension, home ownership, or registered retirement savings plan are considered family property, including each party’s [http://www.esdc.gc.ca/en/cpp/index.page Canadian Pension Plan (CPP)] credits.
The division of pensions is clarified in the ''FLA''. Unless the pension is proven to be excluded property, it will be divisible. The presumption is equal division unless it would be significantly unfair based on the considerations in s 95 of the ''FLA''. If a spouse is to receive benefits at a later date, they may become a limited member of the plan. They If they cease to be a limited member then their share is transferred. A spouse can generally either choose to have a lump-sum payment of their share, to have a separate pension payment issued to them (s 115) or a hybrid of both (s 116). This decision may be made at any time (either before or after the pension commences) but the division will only occur after the pension has commenced (s 115).
If an agreement or order regarding the benefits of a pension provides that the benefits are not divisible or is silent on entitlement to benefits, a member and a spouse may agree to have benefits divided before the earliest of: