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Legal Ease
Legal Ease, Lawyer
Category: Canada Family Law
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Experience:  I am a practicing lawyer and have also been an online professional for 5 years.
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In Ontario , my wife and I are considering divorce.We are both

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In Ontario , my wife and I are considering divorce.We are both retired teachers collecting our teachers' pensions. How is the value of the survivor pensions arrived at in Ontario divorce? She is 11 years younger than myself so will likely way out live me. Her teacher's pension is much smaller than my pension. If I died now she would collect about $650000. from my spousal survivor pension if she lives to age 85 but I would collect only about $ 225000. from her spousal survivor pension if she died now and I lived to age 85.How is the value of survivors pension asset determined in a marriage breakup where both parties are now receiving their teachers' pensions in Ontario. Note -teachers survivor pension is fixed at 50% to the surviving spouse.Note-wife is 57 and I am 68years old.
Submitted: 1 year ago.
Category: Canada Family Law
Expert:  Legal Ease replied 1 year ago.
How long have you been married for?
Customer: replied 1 year ago.
We were married Aug. 7, 1997. I retired from teaching (after 31 years) in 2000. My wife taught 21 years and took early retirement in2010. Ontario teachers survivors pensions are locked in and cannot be negotiated. These survivor pensions are large assets to be considered when dividing family assets. How are the survivor pension assets calculated in divorce settlements in Ontario.
Expert:  Legal Ease replied 1 year ago.
The way this works that pensions are treated the same as all other assets in Ontario. They are valuated at the time of the marriage and the time of the separation and you each share equally in the increase in value of the pensions over the course of the marriage.The actual valuations are carried out by the Pension Plan Administrator. The values would be treated just as an investment or house is treated.Does that clarify the law?
Customer: replied 1 year ago.
So then the survivor pension she collects from my pension if I died today would be about $650000. And I would collect about $225000.survivor pension from her pension if she died today-assuming survivor lived to age 85. So the difference is 650000 minus 225000 = $425000.So she would collect about 425000 more than me , hypothetically. .That would be on her side of the asset ledger, as an asset she owns at division of assets time ????Is that approximately correct?????
Expert:  Legal Ease replied 1 year ago.
It is not necessarily correct. The way pensions are evaluated is they do not look at the final number only but many factors are considered such as life expectancy. I cannot possibly know what either of you pensions would be evaluated at but the pension plan administrator will do that upon request and so you need to have them valuated by the pension plan administrator and then you will know where each of you stand.

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