What Should be Done When a Pensioner Dies?
What Happens to your Pension After You Retire?
What Deductions are Taken from Your Pension?
What Death Benefits are Available for your Survivors after Retirement?
What About Health, Dental and Life Insurance Benefits?
What Should be Done When a Pensioner Dies?
How to plan ahead to avoid delay and reduce costs
It’s important to note that benefits paid to an eligible survivor or payment recipient are not subject to probate fees and cannot be claimed by the pensioner's creditors. A surviving eligible spouse will automatically receive benefits. In cases where there is no surviving spouse, there may be benefits payable to eligible children. Unless someone is named as the payment recipient, any money payable will be paid to the estate and can be claimed by creditors and subject to probate fees. By completing an Identifying Benefit Recipients (Retirement) form, OPTrust can pay directly to a beneficiary rather than the estate. A completed photocopy of this form should be kept with your other important documents such as your Will.
If the OPTrust is not informed of a pensioner’s death, we will continue to pay the full pension, which will result in an overpayment. When that happens all overpayments will be recovered by OPTrust.