Wife was entitled to pre-judgment interest on equalization payment

Family Law - Division of Property - Order for Division

Applicant wife commenced an application in which she sought orders for custody and support in relation to three children of marriage, as well as spousal support. She also sought equalization of parties' net family properties pursuant to Family Law Act (“FLA”), pre-judgment interest on her equalization payment. Divorce granted. Husband shall pay to wife equalization payment of $563,560.23. Wife was entitled to pre-judgment interest on equalization payment as of September 17, 2018. Wife did not have option to not receive her benefits. She was compelled by Public Service Superannuation Act (“PSSA”) and regulations, once the election was made, to receive all of her pension benefit entitlements. They wee, thus, good and truly vested within meaning of property in Section 4(1) of FLA. Family Law value of wife's pension was $447,465.00.

Van Delst v. Hronowsky (2019), 2019 CarswellOnt 6369, 2019 ONSC 2569, Engelking J. (Ont. S.C.J.).

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