Members > Member Handbook > Survivor Benefits > Post retirement survivor benefits

Post-Retirement Survivor Benefits

Survivor Benefits

If you die after you have retired, the order of eligibility for post-retirement death benefits is your Spouse, and then your Children under 18. Entitlement to a benefit can be altered by a spousal separation agreement or a divorce. If this applies to you, please provide the Plan with a copy of the signed agreement or court order if you and your former Spouse have one. If you have any questions about this, please contact your Human Resources Department.

Following your death as a Pensioner, your Spouse will receive monthly payments of 60% of your Lifetime Pension for the rest of his or her life. See the chart here for details.

Spouse optional post-retirement survivor pension

If you have a Spouse when your pension payments start, you can choose, before you receive your first payment, to reduce your pension on a permanent basis in exchange for an increased survivor pension of 75% of your Lifetime Pension payable to your surviving Spouse. The amount of the reduction will be determined by the Plan's actuary and included on the option document you will receive when you retire.

You should be aware that once you make this decision it cannot be changed, even if your Spouse dies before you. If this were to happen, you would continue to receive the reduced amount for the rest of your life. Also, if you were to remarry your new Spouse would, upon your death, receive a 60% survivor pension, not the 75% amount.

January 2008