Break up woes: My ex took my CPP - MoneySense

Break up woes: My ex took my CPP

Your ex can claim your Canada Pension Plan money.


(Photo: Getty)
It’s no surprise that your spouse could walk away from your marriage or common-law relationship with half of your collective real estate and investment assets. But did you know your ex can also claim your Canada Pension Plan money? If one spouse notifies the government of the split, the CPP credits earned by both spouses during the marriage are added together and divided 50=50: extra credits from the higher income earner are shared with the ex-spouse. “In situations where one spouse worked very little or not at all, it’s a big deal,” says Eva Sachs, a financial planner who specializes in divorce. In that case, if the working spouse is eligible for the maximum monthly CPP payout of $986, his or her payments could be reduced to $493.