67.8 (1) A spouse of a retired member is eligible to apply under this section for an immediate transfer of a lump sum from the retired member’s variable benefit account if all of the following circumstances exist: 1.  The spouses are separated and there is no reasonable prospect that they will resume cohabitation. 2.  A variable benefit account has been established for the retired member on or before the family law valuation date, whether or not payments have begun as of that date. 3.  A statement of the imputed value, for family law purposes, of the funds in the retired member’s variable benefit account has been obtained from the administrator under section 67.7. 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 funds in the retired member’s variable benefit account. 2017, c. 8, Sched. 27, s. 14. 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 retired member’s variable benefit account 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 retired member’s variable benefit account to a prescribed retirement savings arrangement. 3.  Transfer of a lump sum from the retired member’s variable benefit account to another prescribed arrangement. 4.  Implementation of the transfer of a lump sum by leaving it, to the credit of the eligible spouse, in the plan in which the retired member’s variable benefit account was established. This option is available in such circumstances as may be prescribed and only if the administrator agrees to it. 2017, c. 8, Sched. 27, s. 14; 2017, c. 34, Sched. 33, s. 28. 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. 2017, c. 8, Sched. 27, s. 14. Duty to transfer (4) Once the application is complete, the administrator shall make the transfer within the prescribed period. 2017, c. 8, Sched. 27, s. 14. 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 permitted by regulation. 2017, c. 8, Sched. 27, s. 14. 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 funds in the retired member’s variable benefit account, as updated for the purposes of this subsection if the regulations require the imputed value to be updated. 2017, c. 8, Sched. 27, s. 14. 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. 2017, c. 8, Sched. 27, s. 14. Duty to adjust account, etc. (8) On making the transfer, the administrator shall, in accordance with the regulations, adjust the funds in the retired member’s variable benefit account in light of the transfer. 2017, c. 8, Sched. 27, s. 14. Discharge of administrator (9) In the absence of actual notice to the contrary, the administrator is entitled to rely on the information provided by the eligible spouse in the application and is discharged on making the transfer in accordance with the application and this section and making the adjustments required by subsection (8). 2017, c. 8, Sched. 27, s. 14. 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 defined contribution provision of the pension plan in respect of the retired member. 2017, c. 8, Sched. 27, s. 14. Orders for support (11) This section does not affect any order for support enforceable in Ontario. 2017, c. 8, Sched. 27, s. 14. Priorities (12) An entitlement to a transfer under this section prevails over any other entitlement under this Act to a payment from the defined contribution provision of the pension plan in respect of the retired member. 2017, c. 8, Sched. 27, s. 14. 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. 2017, c. 8, Sched. 27, s. 14. Section Amendments with date in force (d/m/y) 2017, c. 8, Sched. 27, s. 14 - 01/01/2020; 2017, c. 34, Sched. 33, s. 28 - 01/01/2020