Members > FAQ > 75% Spousal Pension

FAQ - 75% Spousal Pension

FAQs

The CAAT Pension Plan in general
Membership
Pensionable Service
The contribution formula and pension calculation
Transferring service
Purchasing service
Termination of employment
Retirement
Early retirement
The Bridge Benefit
Indexation
The 75% Spousal Pension
The 60 Months Pension Guarantee
Survivor benefits

75% Survivor Pensions

Member Handbook -
Post retirement survivor benefits

What is the 75% spousal pension?

After your death as a Pensioner, your Spouse is automatically entitled to a Survivor Pension of 60% of your lifetime pension. If you have an eligible Spouse when your pension starts, you can choose to reduce your pension permanently in exchange for an increase in the Survivor Pension to 75% of your lifetime pension. You must make this choice before the first monthly payment of your pension, and it cannot be changed once it is made.

What happens if I choose the 75% spousal pension option and my spouse dies before me? Will I continue to receive the reduced pension or will it be increased to what it would have been if I had chosen the 60% spousal pension?

You will continue to receive the reduced pension. The decision to choose the 75% spousal pension must be made carefully, since it cannot be changed.

I expect to retire next month and am currently single. However I might marry while retired, in which case I will have an eligible spouse. If that happens, can I choose a 75% spousal pension at that time?

No. The 75% spousal pension option is only available at retirement and only if you have an eligible Spouse when you retire. However, your new Spouse would be entitled to the regular survivor pension of 60% of your lifetime pension.

January 2006