FSCO Releases Proposed Family Law Forms

In response to Ontario's new regime for dividing pensions on marriage breakdown, which permits the former spouse of a plan member to receive an immediate payment of his or her share of the member's pension and requires plan administrators to calculate the value of the pension, the Financial Services Commission of Ontario (FSCO) has released draft versions of the prescribed forms that must be used in the pension division process.

These forms are to be used by plan members, their spouses/former spouses and plan administrators during most of the steps in the process. For example, there are forms for:

• applying to the plan administrator for the "imputed value" or "family law value" of the pension;