Pensioners > FAQ > Survivor benefits

FAQ - Survivor benefits

When I die, what benefit is available to my family?

The Survivor benefit depends on who the Survivor is. Find the situation among the following three that applies to you.

FAQs

The CAAT Pension Plan in general
Retirement
Bridge benefits
Indexation
The 60 Months Pension Guarantee
Survivor benefits

Survivor Benefits

Survivor Benefits upon the death of a pensioner

Pensioner Handbook -
After you're gone

Member Handbook -
Post-retirement survivor benefits
What if I die after I retire?

Member FAQ -
Survivor Benefits

Situation 1 - I have an eligible Spouse

Your Spouse will receive a pension equal to 60% of your pension as of the date of death (unless you choose the 75% Spousal pension when you retired).

When your Spouse dies, your eligible Child (if you have one) will receive a Children's pension equal to the Spousal pension. If you have no eligible Children (those who are under age 18), any balance of 60 months of your lifetime pension that exceeds the total pension payments made will be paid to the beneficiary, if your Spouse designated one, or to your Spouse's estate (see 60 months pension guarantee).

Situation 2 - I do not have an eligible Spouse, but I do have eligible Children

Your eligible Children will receive the Spousal pension (divided into equal shares). Children lose eligibility when they turn 18 - and when that happens, the shares will be redivided among any remaining children.

When your youngest eligible Child reaches age 18, he or she (or if he or she died before reaching age 18, the estate) will receive any balance of 60 months of your lifetime pension that exceeds the total pension payments made.

Situation 3 - I do not have either an eligible Spouse or eligible Children

Your beneficiary, if you designated one, or otherwise your estate, will receive any balance of 60 months of your lifetime pension that exceeds the total pension payments made.

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How do I designate a Beneficiary?

To designate a Beneficiary, write to us, and include your full name, address, and social insurance number as well as the information about the Beneficiary. Don't forget to sign your letter.

You can also advise us of a change to your Beneficiary by completing a Pensioner Change Request form and mailing it directly to us, or by contacting us by phone.

Who are my Beneficiaries and what benefits can they get from the CAAT Plan?

If you have an eligible Spouse, he or she is your Beneficiary. If you do not have a Spouse, you can designate a Beneficiary, if you have not already done so, by completing a Pensioner Change Request form.

Your pension will be paid to you for as long as you live. When you die, the survivor pension is paid to your Spouse for as long as your Spouse lives. Once your Spouse dies, if you have "eligible Children" (dependents who are under 18 years of age), they will continue to receive a survivor pension until they turn 18. This pension is equally divided among your eligible Children and is re-divided each time a Child turns 18.

In addition, after these pensions have stopped and if all the payments made to you, your Spouse and your Children total less than 60 times your original lifetime pension payment, the difference will be paid to the last Child to turn 18, the Beneficiary, if one has been designated or the Estate, if a Beneficiary has not been designated.

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If my Spouse is automatically my Beneficiary, why should I name someone else?

When you die, your eligible Spouse will automatically receive Survivor benefits. However in the event that your Spouse pre-deceases you, or you die at the same time, and you have no eligible Children, any death benefits will be paid to your Beneficiary. If you have not named a Beneficiary, any benefits, such as any balance owed to you under the 60 months pension guarantee, will be paid to your Estate.

Why does the Plan need to know information about my Spouse?

In the CAAT Plan, information about spouses is needed principally for assigning death benefits to the spouse after a Member passes away. A spouse who is in a position to collect a spousal pension is known as an "eligible Spouse". We use this term to describe both legally married and common law spouses of either sex. We consider it a common-law relationship if the people have lived together as a couple continuously for at least one year (less if they share children).

The personal information that we collect is also required by our actuary to complete the actuarial valuations and to calculate the Commuted Value of your pension.

I have a different Spouse now than when I retired. What papers or materials does the Plan need to ensure my file is up to date?

Complete the Pensioner Change Request form or send a letter to the Plan, indicating your change of marital status and the relevant details. You as the Pensioner must sign the form or the letter. In most cases, your written declaration will be adequate proof of marital status, however you may be asked for a birth certificate or marriage certificate to help ensure that correct information is recorded.

In the event of a marriage breakdown, a divorce or separation agreement could have an impact on the Survivor benefit that is paid. Please contact the CAAT Pension Plan if you have any questions.

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January 2006