Death

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Death

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​​​What happens to my pension if I die before or during retirement?


You are an eligible employee

If you die before you retire, your beneficiary will receive the value of your vested pension as if you had left your employer the day before you died. In such a case, the benefit paid to the spouse or any other beneficiary is paid irrespective of the Plan’s solvency ratio.

If you have a spouse as defined by the Supplemental Pension Plans Act – the Desjardins Group Pension Plan uses the same definition – the death benefits are paid to your spouse. Your spouse may, however, waive this right by signing the Spousal waiver of death benefits prior to retirement. This waiver may be revoked at any time by the spouse, prior to your death or before the start of your pension payments.

Upon your death, the value of your annuity, if paid to your spouse, may be transferred tax-sheltered to your spouse’s RRSP (depending on your province of residence). This transfer in no way affects your spouse’s annual RRSP contributions or unused contribution room. If the value of your annuity is paid to any other person, this person will have to add the value of your annuity to his or her taxable income. Taxes will be withheld at the following rates and the final tax rate will be calculated when the individual files his or her tax return. 

 

For an estimate of the value of your vested pension, if you are under 55 years of age, you must refer to your annual statement on page « My file » of the DGPP secure section.

You are retired
The consequences of your death depend on the form of the annuity you chose when you retired.​