If you die before accumulating at least five years of pensionable service, the death benefit payable will be a refund of your contributions, plus interest.
If you have accumulated at least five years of pensionable service, the death benefit payable will be the greater of the commuted value of the pension benefit, or a refund of your contributions and interest.
If you die after accumulating five years of pensionable service, your Principal Beneficiary (spouse/cohabiting partner) will have the following options:
- a lifetime survivor pension equal to 60% of the benefit earned to the date of your death
- a lump sum payment equal to the greater of:
- the commuted value of your pension entitlement, as at the date of your death, or
- the commuted value of the 60% survivor benefit as determined at the date of your death.
The lifetime survivor benefit is integrated with CPP as at the date upon which the deceased would have reached age 65.
If there is no surviving spouse/partner, other death benefits may be available to eligible dependent children, other dependents or designated beneficiaries, depending upon individual circumstances.
Upon your death, after you’ve retired and become a pensioner, your spouse/partner or eligible dependent children (in the absence of a spouse/partner) are entitled to a survivor benefit equal to 60% of the pension.
The lifetime survivor benefit is integrated with CPP at age 65 of the deceased member. In the case of a spouse/partner, the benefit is payable for life. In the case of dependent children, the benefit is payable until the youngest child reaches age 18, or age 24 if in full-time attendance at a recognized school.
The survivor benefits are paid in the first instance to your spouse/partner.
In addition to the survivor benefit, there may be a residual death benefit payable after all eligible survivor benefits have been paid in accordance with the Plan. A member’s Designated Beneficiaries are entitled to these residual death benefits.
If you wish to designate a beneficiary, you must complete and submit the beneficiary designation form found HERE.
Please contact the TPPC
for more detailed information about survivor benefits.