Family Law Valuations (Marriage Breakdown) – new forms effective May 1, 2022
As of January 1, 2012, a division of pension assets cannot be processed unless the Plan Member (or the Member’s spouse) submit a request for a Family Law Value to the Plan Administrator. The forms are administered by the Financial Services Regulatory Authority of Ontario (FSRA). FSRA was established to replace the Financial Services Commission of Ontario (FSCO). Effective May 1, 2022, only FSRA forms will be accepted for the Family Law Valuation process. If McMaster receives any old FSCO forms, these will be rejected and the process will not begin until the FSRA forms are completed and submitted.
FSRA has created a guide for members and their spouses regarding Pensions and marriage breakdown. Please refer to this link for answers to all of your Family Law Valuation questions, as well as the applicable forms that are required for your situation. Step one of the process requires Plan members (or their spouses) to complete the Application for Family Law Value (Form 1), which can be found here. To assist in completing Form 1, please reference the form McMaster University information required to complete the Family Law Application.
Please note, the FSRA forms, prescribed documents and associated fee of $600 should be submitted to Human Resources Service Centre at email@example.com.Hourly Pension Plan (Active Members), Original Pension Plan (Active Members), Pension Plan 2000 (Active Members)