After 30 years of marriage, Yuan and Li-Ming divorced earlier this year. Throughout their time together, Yuan was the sole income earner while Li-Ming remained at home to care for their daughter. Yuan works for an auto parts manufacturer where he has been employed for 40 years; he intends to retire in five years. For the entire time he was married, Yuan contributed to the CPP without interruption. Yuan is also a member of his company's defined benefit pension plan. Based on the breakdown of his relationship, what statement regarding the splitting of Yuan's CP credits is correct?

a) In most jurisdictions, a division of Yuan's CP credits with Li-Ming is mandatory.

b) The statute of limitations for Li-Ming to apply for a split of Yuan's CP credits is four years from the date of divorce.

c) Li-Ming cannot apply for a split of Yuan's CP credits because she has never contributed to the program herself.

d) One hundred per cent of Yuan's CP credits accumulated during his contributory period will be subject to division with Li-Ming.

Answer rating: 100% (QA)

Answer The most accurate statement regarding the splitting of Yuans CPP credits is d One hundred per ... View the full answer