Change in Marital Status
If your marital/relationship status changes, please complete the Change of Records Form and submit it to Sun Life.
You should also review and, if necessary, update your beneficiary under the Plan. See Designating Your Beneficiary for additional details.
Marriage & Common Law
As a member of the Faculty Pension Plan (FPP), if you are married, your spouse must be your primary beneficiary under British Columbia Pension Legislation. Should your spouse wish to waive their right to the death benefits, they must complete Form 4 – Spouse’s Waiver of Beneficiary Right to Benefits in a Pension Plan, Locked-In Retirement Account, Life Income Fund or Annuity Before Payments Start.
The Pension Benefits Standards Act (PBSA) defines a spouse to be a person, regardless of gender, who at the relevant time is:
- married to the Member and has not been living separate and apart from the Member for a continuous period longer than two years; or
- living with the Member in a marriage-like relationship for a period of at least two years immediately preceding the relevant time; where the “relevant time” means the date of an event giving rise to an entitlement to benefits under Plan.
Your quarterly statement of account confirms the name of your spouse, if applicable.
Marriage Breakdown, Separation & Divorce
The UBC Faculty Pension Plan (FPP) allows for the distribution of funds to an eligible former spouse upon receipt of the necessary forms as described below. An eligible former spouse may receive funds from the Plan member’s account and transfer these funds on a tax sheltered basis to a Registered Retirement Savings Plan (RRSP), a Registered Pension Plan (RPP) or a Locked-in Retirement Account (LIRA) where the annuitant is the eligible former spouse. Funds removed from the Plan will be subject to the applicable locked-in restrictions and British Columbia Pension Benefits Standards Act Legislation.
Definition of an Eligible Former Spouse
“Eligible Former Spouse” means, in relation to a Member, a person:
- who is entitled, pursuant to Applicable Legislation, to a portion of a Member’s benefits under the Plan in settlement of rights arising as a consequence of a breakdown of the matrimonial relationship between the Member and such person; and
- who applies in Approved Form filed, or on behalf of whom an application in Approved Form is filed, with the Plan Administrator in accordance with the Plan.
Before completing any of the forms indicated below you are strongly encouraged to contact the Pension Administration Office. You can be assured of the strictest confidentiality in dealing with matters regarding your pension benefit and your marriage breakdown.
The Form P1 – Claim and Request for Information and Notice, of the Family Law Act, is completed by a former spouse to inform the Plan that s/he has claim of interest in a member’s account. Once the Plan receives this notice, the Plan will:
- provide the spouse with information about the pension, and
- give the spouse advance notice before it acts on a direction received from the member in connection with his/her pension
Please note no funds are transferred upon receipt of Form P1.
Division of Pension Assets
The following forms must be completed and submitted to the Pension Administration Office before any payment will be made.
Upon receipt of all the necessary forms from an eligible former spouse, the Plan is required to send the member, Form P6 – Administrator/Annuity Issuer Response. This form informs the member that the completed forms have been received from the eligible former spouse and that the Plan will be processing the transfer of funds.
Court Order or Separation Agreement
The order or agreement should direct the Plan to make payments naming the eligible former spouse and provide the details of the division. If the division is in accordance with Part 6 of the Family Law Act, the dates for the period for division must be specified as the beginning of the relationship (the “commencement date”) and the end of the relationship (the “entitlement date”). The order or agreement must be specific as the Pension Administration Office is not empowered to make any decisions regarding the details of the order or agreement.
Form P3 – Request for Transfer from Defined Contribution Account
Form P3 – Request for Transfer from Defined Contribution Account is completed by the former spouse of a member who would like to transfer their pension entitlement to an RRSP, RRIF, RPP, LIF or LIRA.
Form P9 – Agreement to Have Benefits Divided
Form P9 – Agreement to Have Benefits Divided can be used to satisfy the requirement for an agreement, under Part 6 of the Family Law Act. DO NOT USE THIS FORM if you already have a written agreement, or an order, dividing the benefits.
Direct Transfer of a Single Amount (T2151)
The Direct Transfer of a Single Amount (T2151) form must be completed by a former spouse for each transfer to an RRSP, RRIF, RPP, LIF or LIRA.