Alberta legislation regarding the division of pension benefits in the event of a relationship breakdown has changed.
Beginning March 1, 2019, common-law partners are permitted to submit property division orders or agreements for the division of their Public Service Pension Plan pension benefits. Both married or common-law pension partners can now divide their pension benefits by a property division order or an agreement.
Whether you were in a marriage or in a common-law relationship that has broken down, there are several things to know when it comes to your pension in these situations. Below is some information to help you understand your next steps.
Every divorce or separation is unique; therefore, it is very important that you contact us as soon as possible to obtain information for your personal situation. We provide information to both members and their non-member pension partners.
A member's pension can be divided on separation or divorce. It is very important to note that not every separation or divorce results in a member's pension being divided. You and your pension partner can agree that other assets of equal value can offset the value of the pension benefit, or you and your non-member spouse/common-law partner (your partner) might agree not to divide anything at all, which would leave your PSPP pension unaffected.
Whatever you and your partner decide to do regarding your PSPP pension, please let us know as soon as possible.
If you haven’t already, it is suggested that you get independent legal advice regarding a division of your pension. You can direct your representative to the Instructions for Lawyers and Questions and Answers document for more detailed information.