In the event of your death prior to being eligible for unreduced early retirement, the death benefit to your spouse (legal or common-law) is the choice of:
· a monthly pension payable for life equal to 60% of the pension you accrued to your date of death* or
· tax-free transfer to a Registered Retirement Savings Plan (RRSP) or
· a lump sum cash payment.
*If your spouse elects to receive a monthly pension payable for life, additional benefits may be payable for dependent children.
If you are not married, the death benefit is payable in a lump sum to your designated beneficiary or estate.
In the event of your death after becoming eligible for unreduced early retirement, the death benefit to your spouse (legal or common-law) is:
· a monthly pension payable for life equal to 60% of the pension you accrued to your date of death.
If you are not married, the death benefit is payable in a lump sum to your designated beneficiary or estate.