Death and Survivor Benefits

When we plan for the future, we also have to think of how to provide for our spouse or family when we’re gone. As a Plan member, your loved ones have protection – in the form of survivor benefits – if you should die before retirement or while receiving your pension.

• What if I die before retirement?

  In the event of your death prior to retiring, the benefits that will be payable depend on many factors.

  If you die before you have been credited with at least five years of pensionable service, a refund of your contributions and interest will be paid to your estate.

  If you die with at least five years of pensionable service, your principal beneficiary will have the following options:

  • a lifetime pension equal to 60% of the benefit earned to the date of death, or
  • a lump sum payment of the greater of:
    • 100% of the commuted value of your pension entitlement, calculated at the date of death, or
    • the commuted value of the 60% survivor benefit as determined at your date of death.

  If your principal beneficiary elects to receive the 60% survivor pension, it is payable to them for life. Payments will begin on the first day of the month following the month of your death.

  If you have no principal beneficiary at the date of death, the commuted value of your pension entitlement will be paid to your estate.

• What if my principal beneficiary dies leaving surviving children?

  Upon the death of a principal beneficiary who is receiving the 60% survivor benefit, the benefit will continue to be paid to (or for the benefit of) surviving children:

  • until the youngest child reaches age 18, or
  • if a child is in full-time attendance at a recognized school or post-secondary institution, until the course of study is completed or the child reaches age 24, whichever occurs first.
• What if I die after I retire?

  If you are retired, your surviving principal beneficiary or (in the absence of a principal beneficiary), your surviving children will receive a survivor benefit equal to 60% of the pension.

  In the case of a principal beneficiary, the benefit is payable for life. In the case of surviving children, the benefit is payable until the youngest child reaches age 18 or, if a child is in full-time attendance at a recognized school or post-secondary institution, until the course of study is completed or the child reaches age 24, whichever occurs first.

  Please note that, if it has not been removed, the bridge benefit will be removed from the survivor pension when the plan member reached age 65.

• Are there any other provisions which protect my interests in the event of my death?

  Yes, it is called the Estate Provision.

  If you and/or your survivors should die before the total of benefits paid out is equal to your contributions plus interest, the difference between the amount of contributions with interest and the total benefits paid will be calculated and paid to your estate. The minimum payment from the Plan will be your total contributions, with interest.