Once you receive the Statement of Family Law Value from OMERS, you and your former spouse will need to decide if your pension will be divided.
If you decide to divide your pension, treatment of the pension amounts from the Plan must be clearly set out in the applicable marriage breakdown document (court order, family arbitration award or domestic contract). The document must indicate:
- that matches the date on the FSCO Family Law Form 4 – Statement of Family Law Value.
- Division of the pension benefit expressed as either a specified amount or a percentage of the FLV reported on the FSCO Family Law Form 4 – Statement of Family Law Value. For members with more than one OMERS membership, this must be set out for each membership separately.
Also, if you have an Additional Voluntary Contributions (AVC) account or you are entitled to a Retirement Compensation Arrangement (RCA) benefit, AVCs and RCA benefits must be addressed separately in the marriage breakdown document. For more about the RCA and AVCs see Step 2 – OMERS Calculates a Statement of FLV.