67.3 (1) A spouse of a member, former member or retired member of a pension plan is eligible to apply under this section for an immediate transfer of a lump sum from the plan if all of the following circumstances exist: 1.  The spouses are separated and there is no reasonable prospect that they will resume cohabitation. 2.  No payment of an instalment of the member’s or former member’s pension was due on or before the family law valuation date. 3.  A statement of the imputed value, for family law purposes, of the member’s pension benefits or the former member’s deferred pension has been obtained from the administrator under section 67.2. 4.  The transfer is provided for by an order made under Part I (Family Property) of the Family Law Act or is authorized under a family arbitration award or domestic contract. 5.  In the order, family arbitration award or domestic contract, the amount to be transferred as a lump sum is expressed, i.  as a specified amount, or ii.  as a proportion of the imputed value, for family law purposes, of the member’s pension benefits or the former member’s deferred pension.  2009, c. 11, s. 49; 2010, c. 9, s. 45. Application for transfer (2) The eligible spouse may apply, in accordance with the prescribed requirements, to the administrator of the plan for any of the following: 1.  Transfer of a lump sum from the plan to another pension plan registered under the pension benefits legislation in any jurisdiction in Canada or provided by a government in Canada.  This option is available only if the administrator of the other plan agrees to accept the transfer. 2.  Transfer of a lump sum from the plan to a prescribed retirement savings arrangement. 3.  Transfer of a lump sum to another prescribed arrangement. 4.  Implementation of the transfer of a lump sum by leaving it in the plan to the credit of the eligible spouse.  This option is available in such circumstances as may be prescribed and only if the administrator agrees to it.  2009, c. 11, s. 49; 2010, c. 1, Sched. 23, s. 6; 2017, c. 34, Sched. 33, s. 25. Restrictions on transfers (3) The transfer is subject to the restrictions set out in this section and to such other restrictions as may be prescribed.  2009, c. 11, s. 49. Duty to transfer (4) Once the application is complete, the administrator shall make the transfer within the prescribed period.  2009, c. 11, s. 49. Transfer to eligible spouse’s estate (5) If the lump sum is not transferred under subsection (4) before the death of the eligible spouse, the lump sum is payable instead to the eligible spouse’s estate or as otherwise prescribed.  2009, c. 11, s. 49; 2019, c. 14, Sched. 9, s. 31 (1). Maximum percentage (6) The order, family arbitration award or domestic contract is not effective to the extent that it purports to entitle the eligible spouse to the transfer of a lump sum that exceeds 50 per cent of the imputed value, for family law purposes, of the pension benefits or deferred pension, as updated for the purposes of this subsection if the regulations or the Authority rules require the imputed value to be updated.  2009, c. 11, s. 49; 2019, c. 14, Sched. 9, s. 31 (2). Partial transfer directly to spouse (7) If the amount that would otherwise be transferred in accordance with the application is greater than the amount prescribed under the Income Tax Act (Canada) for such a transfer, the administrator shall pay the portion that exceeds the prescribed amount as a lump sum to the eligible spouse.  2009, c. 11, s. 49. Duty to adjust pension benefits, etc. (8) Upon making the transfer, the administrator shall, in accordance with the regulations, adjust the benefits and entitlements of the member or former member under the pension plan to take into account the transfer.  2009, c. 11, s. 49. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 67.3 (8) of the Act is repealed and the following substituted: (See: 2019, c. 14, Sched. 9, s. 31 (3)) Duty to adjust pension benefits, etc. (8) Upon making the transfer, the administrator shall, in accordance with the regulations or the Authority rules, adjust the benefits and entitlements of the member, former member or retired member under the pension plan to take into account the transfer. 2019, c. 14, Sched. 9, s. 31 (3). Discharge of administrator (9) In the absence of actual notice to the contrary, the administrator is entitled to rely upon the information provided by the spouse in the application and is discharged upon making the transfer in accordance with the application and this section and making the adjustments required by subsection (8).  2009, c. 11, s. 49. Effect of transfer (10) Once the transfer is made in accordance with the application and this Act, the eligible spouse has no further claim against the pension plan in respect of the member or former member.  2009, c. 11, s. 49. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 67.3 (10) of the Act is amended by striking out “member or former member” at the end and substituting “member, former member or retired member”. (See: 2019, c. 14, Sched. 9, s. 31 (4)) Orders for support (11) This section does not affect any order for support enforceable in Ontario.  2009, c. 11, s. 49. Priorities (12) An entitlement to a transfer under this section prevails over any other entitlement under this Act to a payment from the pension plan in respect of the member or former member.  2009, c. 11, s. 49. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 67.3 (12) of the Act is amended by striking out “member or former member” at the end and substituting “member, former member or retired member”. (See: 2019, c. 14, Sched. 9, s. 31 (5)) Same (13) For the purposes of subsection (12), an entitlement to a transfer under this section arises on application under subsection (2) by an eligible spouse.  2009, c. 11, s. 49. Section Amendments with date in force (d/m/y) 2009, c. 11, s. 49 - 01/01/2012 2010, c. 1, Sched. 23, s. 6 - 01/10/2010; 2010, c. 9, s. 45 - 01/07/2012 2015, c. 9, s. 31 (3) - no effect - see 2016, c. 5, Sched. 23, s. 5 - 19/04/2016 2017, c. 34, Sched. 33, s. 25 - 08/06/2019 2019, c. 14, Sched. 9, s. 31 (1, 2) - 10/12/2019; 2019, c. 14, Sched. 9, s. 31 (3-5) - not in force Note: On a day to be named by proclamation of the Lieutenant Governor, the Act is amended by adding the following section: (See: 2019, c. 14, Sched. 9, s. 32) Transfer of lump sum from a successor pension plan for certain family law purposes Application of section 67.3.1 (1) This section applies if, on or after the family law valuation date of a member or former member and his or her spouse but before an eligible spouse’s application for a transfer of a lump sum under section 67.3 is complete, assets attributable to the member’s pension benefits or the former member’s deferred pension, as the case may be, are transferred to another pension plan. 2019, c. 14, Sched. 9, s. 32. Definitions (2) In this section, “original pension plan” means the pension plan whose assets include the assets referred to in subsection (1) on the family law valuation date; (“premier régime de retraite”) “successor pension plan” means the pension plan into which the assets referred to in subsection (1) have been transferred on or after the family law valuation date or any pension plan into which those assets have subsequently been transferred. (“régime de retraite subséquent”) 2019, c. 14, Sched. 9, s. 32. Eligibility (3) A spouse of a member, former member or retired member of the successor pension plan is eligible, in the situation referred to in subsection (1), to apply for an immediate transfer of a lump sum from the successor pension plan if all of the following circumstances exist: 1.  The spouses are separated and there is no reasonable prospect that they will resume cohabitation. 2.  No payment of an instalment of the member’s or former member’s pension was due under the original pension plan on or before the family law valuation date. 3.  A statement of the imputed value, for family law purposes, of the member’s pension benefits or the former member’s deferred pension under the original pension plan has been obtained under section 67.2 or 67.2.1. 4.  The transfer is provided for by an order made under Part I (Family Property) of the Family Law Act or is authorized under a family arbitration award or domestic contract. 5.  In the order, family arbitration award or domestic contract, the amount to be transferred as a lump sum is expressed, i.  as a specified amount, or ii.  as a proportion of the imputed value, for family law purposes, of the member’s pension benefits or the former member’s deferred pension under the original pension plan. 2019, c. 14, Sched. 9, s. 32. Application for transfer (4) The eligible spouse may apply, in accordance with the prescribed requirements, to the administrator of the successor pension plan for any of the following: 1.  Transfer of a lump sum from the plan to another pension plan registered under the pension benefits legislation in any jurisdiction in Canada or provided by a government in Canada. This option is available only if the administrator of the other plan agrees to accept the transfer. 2.  Transfer of a lump sum from the plan to a retirement savings arrangement prescribed for the purposes of paragraph 2 of subsection 67.3 (2). 3.  Transfer of a lump sum to another prescribed arrangement. 4.  Implementation of the transfer of a lump sum by leaving it in the plan to the credit of the eligible spouse. This option is available in such circumstances as may be prescribed and only if the administrator of the successor pension plan agrees to it. 2019, c. 14, Sched. 9, s. 32. Restrictions on transfers (5) The transfer is subject to the restrictions set out in this section and to such other restrictions as may be prescribed. 2019, c. 14, Sched. 9, s. 32. Duty to transfer (6) Once the application is complete, the administrator of the successor pension plan shall make the transfer within the prescribed period. 2019, c. 14, Sched. 9, s. 32. Transfer to eligible spouse’s estate (7) If the lump sum is not transferred under subsection (6) before the death of the eligible spouse, the lump sum is payable instead to the eligible spouse’s estate or as otherwise prescribed. 2019, c. 14, Sched. 9, s. 32. Maximum percentage (8) The order, family arbitration award or domestic contract is not effective to the extent that it purports to entitle the eligible spouse to the transfer of a lump sum that exceeds 50 per cent of the imputed value, for family law purposes, of the pension benefits or deferred pension under the original pension plan, as updated for the purposes of this subsection if the regulations or the Authority rules require the imputed value to be updated. 2019, c. 14, Sched. 9, s. 32. Partial transfer directly to spouse (9) If the amount that would otherwise be transferred in accordance with the application is greater than the amount prescribed under the Income Tax Act
(Canada) for such a transfer, the administrator of the successor pension plan shall pay the portion that exceeds the prescribed amount as a lump sum to the eligible spouse. 2019, c. 14, Sched. 9, s. 32. Duty to adjust pension benefits, etc. (10) Upon making the transfer, the administrator of the successor pension plan shall, in accordance with the regulations or the Authority rules, adjust the benefits and entitlements under the successor pension plan of the member, former member or retired member, to take into account the transfer. 2019, c. 14, Sched. 9, s. 32. Discharge of administrator of successor pension plan (11) In the absence of actual notice to the contrary, the administrator of the successor pension plan is entitled to rely upon the information provided by the spouse in the application and by the administrator of the original pension plan and is discharged upon making the transfer in accordance with the application and this section and making the adjustments required by subsection (10). 2019, c. 14, Sched. 9, s. 32. Effect of transfer (12) Once the transfer is made in accordance with the application and this Act, the eligible spouse has no further claim against the successor pension plan in respect of the member, former member or retired member. 2019, c. 14, Sched. 9, s. 32. Orders for support (13) This section does not affect any order for support enforceable in Ontario. 2019, c. 14, Sched. 9, s. 32. Priorities (14) An entitlement to a transfer under this section prevails over any other entitlement under this Act to a payment from the successor pension plan in respect of the member, former member or retired member. 2019, c. 14, Sched. 9, s. 32. Same (15) For the purposes of subsection (14), an entitlement to a transfer under this section arises on application by an eligible spouse. 2019, c. 14, Sched. 9, s. 32. Section Amendments with date in force (d/m/y) 2019, c. 14, Sched. 9, s. 32 - not in force Division of a pension for certain family law purposes