Pension
Death
If you die before retirement, your spouse or beneficiary (if you have no spouse) may receive a death benefit from the Plan. The amount of the benefit will be calculated based on the sum of contributions your employer(s) has contributed on your behalf, plus interest.
- If you have a spouse at the time of your death, your spouse may transfer the death benefits to a locked-in retirement account, to another pension plan, or use it to purchase a deferred life annuity or LIF.
- If you do not have a spouse at the time of your death, your beneficiary may receive a death benefit as a taxable lump sum payment.
Upon your death, your spouse or other beneficiary should contact the Plan Administration Office to obtain the Statement of Claimant form to notify the Plan of your death and select how they wish to receive the death benefit that has accumulated in the Plan.
If you die after retirement, the death benefits payable will depend upon the form of pension you selected when you retire.
For more information, please refer to the Death Benefits section of the Pension Plan Booklet.
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