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Phone:
1.800.774.5070 (toll free in NS) or 902.424.5070

Hours: 
8 AM to 5 PM, Monday to Friday

Email:
pensionsinfo@nspension.ca

 

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My Retirement Plan

My Retirement Plan offers active plan members secure access to their personalized pension information online. Members can:

  • View their Annual Member Statement;
  • Use the Pension Projection Tool; and
  • View helpful retirement and financial planning resources.

 

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Survivor Pension Benefit

When thinking about survivor benefits for your loved ones, it is important to know who is eligible and what options are available.

In the event of your death, your surviving spouse, eligible children (subject to age restrictions) or dependants are automatically entitled to receive a survivor pension. You do not have to designate them as your beneficiary(ies).

If you do not have a surviving spouse, eligible children or dependants, you may designate a beneficiary. This could be your adult children (non-dependent), a friend, a relative, or a charity. They would not receive a survivor pension; rather a one-time lump sum payment.


IMPORTANT! If you would like to ensure that your children receive the maximum allowance benefit under the Plan, you should designate them as beneficiaries.


To designate a beneficiary, you will need to complete a Member Information Form-FORM.0092.


Definitions regarding your survivor pension benefit:

  • Spouse:
    Either of two persons who:
    • Are married to each other, or
    • Are registered domestic partners, or
    • Are cohabiting in a relationship and have cohabited in that relationship for at least three years immediately preceding the relevant time (one year, if neither is married)
       
  • Eligible Child(ren):
    • Your natural or adopted children or a child for which you are a legal guardian.
    • Eligible children must be under 18 years of age or under 25 if a full-time student at a recognized educational institution.
       
  • Dependant(s):
    • Is a relative who is dependent on you by reason of mental or physical disability, fully dependent on you for financial support
    • Must be considered a dependant by CRA for income tax purposes

 

Payment Order of Priority

Who receives your survivor pension benefit and the percentage paid in the event of your death:


1.  Your surviving spouse and eligible children (subject to age restrictions) are the first in line to automatically receive a monthly survivor pension at the time of your death.

The 5-year Guarantee Period
The 5-year Guarantee Period allows for 100% of your accrued pension benefit to be paid to your surviving spouse if you pass away in service or during the first 5 years after retirement. After the 5-year Guarantee Period ends, the percentage of pension benefit paid to your surviving spouse depends on when you joined the Plan. The 5-year Guarantee Period does not apply to eligible children or dependants.
 

  • If you pass away before you retire (Pre-Retirement death): your surviving spouse will receive 100% of your accrued pension for 5 years, minus any eligible child(ren)’s benefits (if applicable).
     
  • If you pass away within the first 5 years after you retire (Post-Retirement death): your surviving spouse will continue to receive 100% of your accrued pension for the remainder of the 5-year Guarantee Period, minus any eligible child(ren)’s benefits (if applicable).


If you commenced employment on or after April 6, 2010:

  • After the 5-year Guarantee Period: your surviving spouse will receive 60% of your accrued pension for their lifetime (with the post-1991 bridging removed).
     
  • Your eligible children will receive 10% of your accrued pension, to a maximum total of 40% shared equally among all eligible children (if more than 4 eligible children).
     

If you commenced employment before April 6, 2010:

  • After the 5-year Guarantee Period: your spouse will continue to receive 66.67% of your accrued pension for their lifetime (with the post-1991 bridging removed) when you would have turned age 65.
     
  • Your eligible children will receive 10% of your accrued pension benefit, to a maximum total of 33.33% shared equally among all eligible children (if more than 3 eligible children).

     

2.  If you do not have a surviving spouse, your eligible children (subject to age restrictions) would qualify for the survivor pension that would have been paid to your spouse. Your eligible children would receive:

  • 60% of your accrued pension, paid as a monthly pension benefit (if you commenced employment on or after April 6, 2010).
     
  • 66.67% of your accrued pension, paid as a monthly pension benefit (if you commenced employment before April 6, 2010).



3.  If you do not have a surviving spouse and no eligible children, your eligible dependant(s) would receive:

  • 60% of your accrued pension, paid as a monthly pension benefit (if you commenced employment on or after April 6, 2010).
  • 66.67% of your accrued pension, paid as a monthly pension benefit (if you commenced employment before April 6, 2010).



4. If you do not have a surviving spouse, eligible children, or dependants you may designate a beneficiary. This could be your adult children (non-dependent), a friend, a relative, an estate or a charity.

Your designated beneficiary would receive a refund of your contributions, plus interest, as a one-time lump sum payment. This would only apply if there are still contributions left to be paid out. For example, if you are retired for more then 3 years at the time of your passing, it is unlikely that there would be any contributions left to be paid out.

If you do not have a designated beneficiary, the one-time lump sum refund will be paid out to your estate, if applicable.

You can update or change your beneficiary at any time by completing a Member Information Form-FORM.0092.