News & Updates
B.C. introduces Bill 17, proposing amendments to the Family Law Act for pension division
May 11, 2023
British Columbians may soon see changes to how pensions are divided for separated spouses.
Bill 17 was recently introduced in the legislative assembly, and would amend part six of the Family Law Act concerning pension division, based on recommendations from the British Columbia Law Institute’s (BCLI).
The BCLI says the changes would provide “improvements” in several areas, including clarifying and modernizing the law on:
- locked-in retirement accounts and life income funds
- private annuities
- waiving survivor benefits after pension commencement
- the powers of a personal representative after the death of a spouse
- the transfer and calculation of commuted values
- disability benefits
- transitions
The BCLI originally made its recommendations in a report published in March 2021.
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