Ariam and Shane have been married for 25 years and they both have been working for 45 years. Based on their CPP statements, Ariam is entitiled to a maximum CPP benefit of $985 per month, and Shane is entitled to $450 per month. In addition to this government pension, Ariam also has a very good defined benefit pension plan through her employer. They have decided to assign their CPP benefits as on e method of minimizing taxes in retirement.

Required

a. Calculate the amount of pension that can be split (3 marks)

b. Calculate what Ariam and Shane's monthly pension will be after the assignment (3 marks)