OSPC - FAQS - Overview of Manitoba Pension Laws
Where there is:
the act requires that the pension benefits must be divided equally.
However, this only applies if the pension assets were accrued:
For spouses who began living separate and apart before June 30, 2004, the pension benefits that must be divided are the benefits accrued from the date of the marriage.
No. This law only applies to people who separated on or after January 1, 1984. Relationships that ended before then are not subject to division under this law.
You and your spouse or common-law partner may agree to waive the equal split of pension benefits. The act states that if both parties agree, they can avoid the mandatory 50/50 split, but only if both people:
Where the two spouses or partners cannot agree on this, the mandatory 50/50 split of pension benefits must be applied.
As a spouse or common-lay partner, who is entitled to a division at the death of your spouse or partner, you may waive your entitlement. You cannot do this until the plan administrator provides the information required under the act and you sign an approved form.
Except for voluntary and optional ancillary (secondary) contributions, the pension split is locked in and may only be transferred to a:
If both of you belong to pension plans, you can agree, in writing, to equally divide the difference in the two pensions benefits, rather than dividing both pensions on a 50/50 basis.
For example: You can transfer one-half of the net difference in the two pension benefits.
Division of net difference:
* This amount is transferred from Mrs. X's plan to Mr. X's plan, which equalizes the pension benefits earned during the marriage or common-law relationship.
A joint or survivor form of pension pays a pension to the retiree for his/her lifetime and, after death, to the spouse or common-law partner for his/her lifetime. If your pension plan allows, the form of pension may be changed to two separate, life-only pensions. This will permit you, as the retiree, to receive a pension that is payable for your lifetime. Your spouse or partner will also receive a pension that is payable for his/her lifetime only. This option to change the form of pension only applies where you were receiving a joint and survivor form of pension.