Pre-retirement death benefit guide
If you die before you retire, your beneficiary(ies) will be paid a death benefit.
If you die before you retire and you have pension contributions on deposit with the plan, your beneficiary(ies) will be paid a death benefit.Your spouse is automatically your beneficiary unless they have given up their beneficiary rights to your pension. This means that:
- If you die before you retire and before your earliest retirement age of 55, your spouse can choose to receive the benefit
- a monthly pension, payable for their lifetime
- a lump-sum payment equal to the greater of your contributions plus interest or the commuted value of your accrued pension benefit
- If you die before you retire and after your earliest retirement age of 55, your spouse is eligible for a monthly pension only
- Your contributions plus interest
- The commuted value of your accrued pension benefit
If you do not have a spouse and have not named a beneficiary through the WorkSafeBC Pension Plan or in your will, death benefits are paid to your estate.
If you have a former spouse and a written separation agreement or court order that states you agreed to divide your pension on death or retirement, we will follow the terms of the separation agreement or court order when paying any death benefits.
|Plan member's age at date of death||Benefit payable to surviving spouse||Benefit payable to beneficiary(ies) or estate|
|Under age 55 (earliest retirement age)||
Immediate pension, or Payment equal to the greater of:
Payment equal to the greater of:
|Age 55 or older||Immediate pension||Same as above|