In the event of death

When a pension plan member dies, his or her spouse will receive the total amount credited to the member's locked-in and not locked-in accounts, unless the spouse had renounced the right to the benefit. If the spouse had renounced or in the absence of a surviving spouse, the amount will be paid to the designated beneficiary or to the member's heirs.

Statement of benefits

Within 60 days after being informed of the member's death, the financial institution that administers the pension plan must send a statement of benefits to the person who is entitled to the death benefit.

Terms and conditions of payment

A death benefit is payable in a lump sum. If permitted by tax rules, it could be worthwhile to transfer the benefit directly into a registered retirement savings plan (RRSP) or a registered retirement income fund (RRIF).

If you have questions

You should contact the financial institution that administers your plan.

If you want to find out about the surviving spouse's pension and the death benefit under the Québec Pension Plan, consult the section on death.

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