Death of a member

Find out the provisions of a defined contribution pension plan in the event of the death of a member who did not have a spouse.

Death of the member before his or her retirement

A death benefit will be paid to the deceased member's designated beneficiary or to his or her heirs. The benefit will be paid in a lump sum.

Statement of benefits

The plan administrator has 60 days following the date on which the administrator was notified of the death to send a statement of benefits to the person who is entitled to the death benefit.

Amount of the death benefit

The amount of the death benefit must be equal to the sums credited to the member's account (member contributions, employer contributions, and additional voluntary contributions, all with interest). However, the plan is not required to include the employer contributions paid before 1 January 1990 with interest.

Death of the member after his or her retirement

Any amounts payable following the member's death will depend on the normal pension provided for under the plan and the options chosen by the deceased member.

If you have questions

You should contact your plan's administrator.