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Survivor benefits in the university plan

If you die before your pension benefits begins:
  • The actuarial value of your fund will be payable to your surviving spouse if you have one, to your surviving children if you have no spouse, or to your estate if you have no surviving spouse or children. The surviving spouse can transfer the funds to a personal registered retirement plan. Special annuities can be purchased for younger children with these funds. Other beneficiaries would receive the funds in cash.
  • The University of Ottawa Pension Plan has a standard five-year guarantee built in its pension formula. If your death occurs before the standard five-year guarantee expires, 100% of the benefit will continue to be paid to your surviving spouse for the remainder of the five-year period and be reduced to 60% after.

As of July 1, 1996, you may also increase your spouse's survivor pension from 60% up to 100% of your pension benefit, but you must make this choice when you retire and you must cover the cost by choosing a reduced pension.

  • If you have no surviving spouse, the benefit will go to your surviving children under the age of 19, or under 26 if they are attending a university or college.
  • If you have no surviving spouse or children, a lump sum representing the commuted (or actuarial) value of your pension fund would be paid to your estate.
  • If your death occurs after the standard five-year guarantee, 60% of the benefit will continue to be paid to your surviving spouse. If you have no surviving spouse, it will be paid to your surviving children under the age of 19 (or under the age of 26 if they are attending a university or college). If you have no surviving spouse or children, no further benefits are payable.

Guarantee periods of 10 or 15 years are also available. You choose the guarantee period when you retire, depending on your personal situation.

Survivor Benefits Under the Pension Plan (PDF)