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Auditor General (NS) NS Gov - Unfair Pension Access between ex-spouses
I have to wait until my ex-husband retires before I can access my portion of his pension funds that I am legally entitled to because of our divorce and the only reason is because of the laws in NS that require if the pension plan is a 1) Defined Benefit plan,then in NS (the ex-spouse) can only receive the funds on the member's normal retirement date or on the date when pension benefits start being paid, whichever come first, however if the pension plan is a 2) Defined Contribution plan, (the ex-spouse) can receive the funds either immediately in the form of a locked-in transfer, or at some time in the future, up to the spouse's retirement age. His plan is No#1 and my plan is No#2 and that means he accessed mine as soon as he turned 55, three years ago and bought a new truck that my pension funds pay for but, because his plan is a No #1, I have to wait for another seven years before I can access his funds that are mine and I say this is wrong so wrong as this is not the 1950's anymore when woman didn't have many opinions. The NS legislation needs to be brought up to date as it is in other provinces wherby this does not happen. Why should I be held hostage to my ex-husband that is why I divorced him in the first place and I want to make my own decisions and once I turned 55 in three months I should be able to access all legal funds that are mine. I feel very strongly about this and I am discussing this with many singles mothers and fathers that are completely unaware and equally as shocked of how the NS legislation reads. Now that the baby boomers are approaching retirement age there will be many shocked ex-spouses.

Type of Gripe:

  • Poor Product

Type of solution Jodym is looking for:

  • Policy Change
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