Three Levels of Protection
At retirement, you can elect to increase the pension your qualifying spouse will receive to 80 or 100 per cent of what you are receiving at your death (excluding bridge and transition benefits).
The cost of these optional forms of pension is an actuarial reduction in your pension, based on your age and the age of your spouse at retirement. You'll receive the exact cost of these options at the time you apply to retire.
The chart below explains how this works.
| If You Select | You Will Get | Your surviving qualifying spouse will get* |
|---|---|---|
| Normal form of pension |
No reduction in your basic lifetime pension | 60% of your basic lifetime pension |
| 80% spousal benefit option |
A reduction in your basic lifetime pension, based on the difference between your age and your spouse's age | 80% of your basic lifetime pension |
| 100% spousal benefit option |
A larger reduction in your basic lifetime pension, based on the difference between your age and your spouse's age | 100% of your basic lifetime |
* Bridge and transition benefits are not payable to your spouse.
