Splitting of Pension Credits on Marriage Breakdown

8.09 - On the breakdown of a spousal relationship, the pension benefit credit may be partitioned between the Participant and the Spouse within the limits imposed by the legislation of the applicable province.

The term "pension benefit credit" means the Commuted Value of the Accrued Benefit and the Additional Benefit which have accrued during the period of the spousal relationship, as if the Participant had terminated employment as of the date of termination of the spousal relationship with the Spouse.

Where a Spouse becomes entitled to a portion of the pension benefit credit of the Participant, the Spouse may elect:

• to receive a portion of the Participant's pension payments once they commence in accordance with the terms of the Plan; or
• to transfer the portion of the pension benefit credit to which such Spouse is entitled to:
• another registered pension plan in which the Spouse is a member or former member, provided the terms of the other pension plan permit such a transfer, or
• to a Registered Retirement Savings Plan that is not capable of surrender, assignment or commutation.