Pension Diversion Regulations (SOR/84-48)

Regulations are current to 2013-05-26

PRESCRIPTION OF INFORMATION TO BE CONTAINED IN AND MANNER OF SENDING A NOTIFICATION TO RECIPIENT

 A notification referred to in section 34 of the Act shall

  • (a) contain a statement that

    • (i) a duly completed application for diversion of the recipient’s pension benefit has been received for or on behalf of named persons, domiciled and ordinarily resident at the time of the application in a stated province, territory or foreign country or place,

    • (ii) the address of the recipient stated in the notification is the address that will be used by the Minister for purposes of any diversion,

    • (iii) a diversion of a stated amount or stated portion of the net pension benefit will be made to the applicant no later than a stated date, and

    • (iv) the recipient may at any time apply to the Minister in accordance with the Act and these Regulations for a variation or termination of the diversion;

  • (b) be accompanied by a copy of the financial support order on which the application is based; and

  • (c) be sent

    • (i) where the latest known address of the recipient is in Canada, by registered mail with an acknowledgement of receipt, and

    • (ii) in any other case, by air mail or other similar means.

  • SOR/97-177, s. 6.

AMOUNT TO BE DIVERTED

 Where a recipient’s pension benefit consists of both a lump sum payment and periodic payments and the lump sum payment is payable in advance of any periodic payment, the amount to be diverted from the recipient’s net pension benefit shall be determined in accordance with the relevant provisions of the Act as if there were only one such type of payment at the relevant time.

 Where a recipient’s pension benefit consists of both a lump sum payment and periodic payments and the lump sum payment is payable at the same time as any periodic payment, the amount to be diverted from the recipient’s net pension benefit shall be governed by the following rules:

  • (a) where the relevant financial support order provides only for a lump sum payment, the amount specified in the order shall first be satisfied out of the lump sum portion of the recipient’s net pension benefit in accordance with section 36 of the Act as if the recipient’s pension benefit consisted only of a lump sum payment and, if any amount thereof remains unsatisfied, that amount shall be treated as a new lump sum payment to be satisfied in accordance with section 37 of the Act as if the recipient’s pension benefit consisted only of periodic payments;

  • (b) where the relevant financial support order provides only for periodic payments, the payments shall be satisfied out of the periodic payments of the recipient’s net pension benefit in accordance with section 36 of the Act as if the recipient’s pension benefit consisted only of periodic payments; and

  • (c) where the relevant financial support order provides for both a lump sum payment and periodic payments, the lump sum payment portion shall be satisfied out of the lump sum payment portion of the recipient’s net pension benefit in accordance with section 36 of the Act as if the recipient’s pension benefit consisted only of a lump sum payment and the periodic payments shall be satisfied out of the periodic payments portion of the recipient’s net pension benefit in accordance with section 36 of the Act as if the recipient’s pension benefit consisted only of periodic payments.

  • SOR/97-177, s. 7.