November 29, 2019

Review of Division of Pensions Regulation and administrative fees take centre stage at November 2019 meeting of the Pension Division Review Project Committee

At this month’s meeting of the BCLI Pension Division Review Project Committee the committee tackled two topics. First, it reviewed the Division of Pensions Regulation, including the forms prescribed under the regulation. Second, it examined the fees that may be charged by a pension-plan administrator to the parties in a Read more…

October 31, 2019

Pension Division Review Project Committee wraps up review of double-dipping, private annuities at October 2019 committee meeting

At its monthly committee meeting, BCLI’s Pension Division Review Project Committee completed its review of two topics that had figured in earlier committee meetings. The first topic involves something that has been informally called double-dipping. This may occur when a spouse receives a share of the other spouse’s pension benefits Read more…

September 20, 2019

Pension Division Review Project Committee examines double-dipping, limited membership at September 2019 committee meeting

At its monthly committee meeting, BCLI’s Pension Division Review Project Committee looked at two topics that could lead to recommendations for additions to part 6 of the Family Law Act. The first topic concerned a possible extension to an existing rule providing for no further entitlement to a spouse’s pension benefits after Read more…

July 26, 2019

Locked-in retirement accounts the focus of July 2019 Pension Division Review Project Committee meeting

At this month’s meeting, the Pension Division Review Project Committee examined locked-in retirement accounts. British Columbia’s Pension Benefits Standards Act defines locked-in retirement account to mean “an RRSP that is prescribed to be a locked-in retirement account.” The regulation completes this definition by adding that “an RRSP is a locked-in retirement account Read more…

June 26, 2019

Pension Division Review Project Committee continues examination of commuted-value transfer, tackles private annuities at June 2019 meeting

At this month’s meeting, the Pension Division Review Project Committee continued its review of commuted-value transfer and began to examine private annuities. Section 115 of the Family Law Act applies to division of a pension with benefits determined under a defined-benefit-formula provision, if the pension is a “local plan” and Read more…