Beneficiaries and your pension

Learn the options available to you when choosing a beneficiary (or beneficiaries) for your pension benefit.

Naming alternate beneficiaries

You may want to name an alternate beneficiary or beneficiaries in case one of your beneficiaries dies before you.

For example, if your spouse dies before you and you have listed your two children as alternate beneficiaries, they will receive equal amounts of any benefits payable from the plan on your death.

You may name more than one alternate for a beneficiary. If you have more than one alternate beneficiary, the percentage of the pension plan benefit for all alternate beneficiaries named must add up to 100 per cent.

You can choose to give a different percentage to each alternate beneficiary, but the total percentage must equal the percentage allocated to their respective beneficiary.

If an alternate beneficiary dies, you may want to name one or more new alternate beneficiaries. If you do not have beneficiaries or alternate beneficiaries named when you die, your pension benefit will be paid to your estate.

Allocating funds to beneficiaries


Related content for beneficiaries and your pension

Name a trustee for a beneficiary

Choosing your pension option