Death after retirement benefit guide

If you die after you retire, your beneficiary(ies) may receive a death benefit based on the pension option you chose at retirement.


Depending on the pension option you selected when you retired, your pension may continue to be paid in full or in part to your beneficiary   for a set period or their lifetime.
 

For example, if you chose:

  • A single life pension with a guarantee period and you die before the guarantee period expires, your monthly pension will continue to be paid to your beneficiary until the end of the guarantee period or they can choose to receive the remaining payments in a lump sum
  • A joint life 100 per cent pension, your monthly pension will continue to be paid to your spouse until the end of their life
  • A joint life pension with a guarantee period and you die before the guarantee period expires, your monthly pension will be paid to your spouse until the end of the guarantee period, after which the joint life percentage will be paid to your spouse until the end of their life

If your beneficiary is an organization, any remaining monthly pension payments will be paid in a lump sum to the organization.

If you and your former spouse had a written separation agreement or court order where you agreed to divide your pension, we will follow the terms of the agreement when paying any death benefits.