FP Canada Qualified Associate Financial Planner (QAFP) Practice Test 2026 - Free QAFP Practice Questions and Study Guide

CPP retirement pension sharing and OAS pension splitting are mutual actions that require a joint election. Because the split changes how benefits are paid between the two spouses, both partners must consent and sign off on the arrangement. The government does not initiate the split automatically; it only applies once both spouses apply together. If only one spouse applies, there is no agreed-upon split, so the portion cannot be reallocated. That’s why the correct approach is that both spouses must apply to receive their portion when they are together and married.