Joint and Survivor Pension. A Member who retires with an eligible spouse shall receive a joint and survivor pension unless the Member and spouse deliver to the Plan Administrator a written waiver of such entitlement, in the prescribed form and within the twelve month period immediately preceding retirement. Unless the joint and survivor pension is waived, the Member's lifetime pension shall be reduced by 10% and, upon the Member's death, his/her eligible surviving spouse shall receive a pension equal to 60% of the lifetime pension being paid to the Member immediately prior to his/her death and shall continue throughout the remaining lifetime of the spouse. Further, the lifetime pension shall be subject to actuarial reduction to the extent the spouse is more than 10 years younger than the Member.
Joint and Survivor Pension. Reduced pension payable to the participant at 95% for life and continuing for the life of the designated surviving spouse at 60% of the benefit received by the retired participant.
Joint and Survivor Pension. A member with an eligible spouse who takes Normal, Special Early, 85 Point, Other Early, or Disability retirement on or after April 21, 1991, shall receive a joint and survivor pension unless the persons entitled to the join and survivor pension deliver to the Plan Administrator a written waiver of such entitlement in the prescribed form within the period of twelve months immediately preceding the commencement of payment of the pension benefit. Unless waived, the member's accrued pension and lifetime supplement, if any, shall be reduced by 10% during his lifetime. Upon his death, his eligible surviving spouse shall receive a pension of 60% of the member's reduced accrued pension and lifetime supplement, if any (subject to actuarial reduction if such spouse is more than 10 years younger than the member).
Joint and Survivor Pension. A Member who retires with an eligible spouse shall receive a joint and survivor pension unless the Member and spouse deliver to the Plan administrator a written waiver of such entitlement, in the prescribed form and within the day period immediately preceding retirement. Unless the joint and survivor pension is waived, the Member’s lifetime pension shall be reduced by and, upon the Member’s death, spouse shall receive a pension to of the lifetime pension being paid to the Member immediately prior to death. Further, the lifetime pension shall be actuarially reduced to the extent the spouse is more than years younger than the Member.
Joint and Survivor Pension. If the contractholder has an eligible spouse on the date that pension payments commence, the pension to be paid following conversion of the value of the contract associated with the SSQ LIRA to an annuity must be for a joint and survivor pension, that is a pension established based on the life of the contractholder and on the life of the eligible spouse, according to applicable pension legislation. The joint and survivor pension may also be designated as being a “joint pension” or a “survivor pension” according to applicable pension legislation. The eligible spouse may waive entitlement to the joint and survivor pension in accordance with applicable pension legislation and as explained in greater detail under the particularities provided hereafter.
Joint and Survivor Pension. With the exception of Alberta, if the contractholder has an eligible spouse on the date that pension payments commence, the pension to be paid following conversion of the value of the contract associated with the SSQ LIF to an annuity must be for a joint and survivor pension, that is a pension established based on the life of the contractholder and on the life of the eligible spouse, according to applicable pension legislation. The joint and survivor pension may also be designated as being a “joint pension” or a “survivor pension” according to applicable pension legislation. The eligible spouse may waive entitlement to the joint and survivor pension in accordance with applicable pension legislation and as explained in greater detail under the particularities provided hereafter. In Alberta, if the contractholder is the original owner of the asset in the SSQ LIF and has an eligible spouse on the date that pension payments commence, then that spouse must be designated as the beneficiary of any death benefit provided by the annuity resulting from the conversion of the value of the contract associated with the SSQ LIF unless the contractholder has provided SSQ with the waiver of sole designated beneficiary rights from the eligible spouse.
