Rights on Marriage Breakdown in British Columbia

B.C. law provides that when a marriage ends, each spouse has rights in family assets owned by the other spouse. This means that even if only one spouse has title to an asset used for a family purpose, like the matrimonial home, the other spouse is entitled to a share of the property.

A pension is a family asset.

More often than not, the pension is the single most valuable asset the spouses own.

Until 1995, it was very difficult to divide a pension. Usually, the spouse would have to wait until the member retired and depend on the member making monthly payments to the spouse. This method didn't usually work very well.

In 1995, legislation was enacted that requires the pension plan administrator to assist in pension division.

Pensions are very complicated. Information about pension value is often misleading. It is usually a mistake, for example, to assume that the amount of contributions made by a member to the pension is an indicator of its value.

Even where information is available that says the pension has a certain value, it may be misleading. This information is usually based on the assumption that the member immediately leaves employment. It places the lowest possible value on the pension. Make sure you know what assumptions were made when valuing the pension.

If your marriage has ended or is coming to an end, make sure you know your rights.

If you and your ex-spouse have an agreement or court order made before July 1, 1995 that divides a pension, the new legislation provides rights that help both of you. Materials on the website will tell you more.