Pensions
Just because you are probably not ready to collect yet, don’t forget about your pension. Your pension might be your most valuable asset. Calculating the value of your pension is complicated. It requires the special knowledge of a Pension Valuator who looks at and places a value on vital information that affects your financial future. Be prepared to answer questions like these:
- Does your pension require mandatory retirement at age 65?
- Can you show that you cannot retire early because of support payments you make?
- Is your retirement pension too small to live on?
- Do you want to work after age 65?
- Will retiring early be psychologically harmful to your health?
- Will you have another income after you retire? Consider that this will increase your tax allowance and reduce the value of your pension.
- Is your life expectancy shorter than normal, as assessed by a doctor?
- Do you work at a dangerous job?
RRSPs
Your RRSPs have to be included in total assets. They should be considered in your pension valuation. Any designated spousal RRSPs are included in your spouse’s assets.
Canada Pension Plan
You may want to have your credits equalized by the Federal Government.
COUNT ON YOUR FINANCIAL DIVORCE SPECIALIST
Joyce will:
- Provide access to a qualified Pension Valuator
- Guide you through the pension evaluation process
- Provide personal advice to share with the Pension Valuator
- Review and clarify the report from the Pension Valuator
- Explain how the pension was valued and help you understand what the numbers mean