Commonly asked questions

Why should I fill out the Identifying Benefit Recipients form? What does it do for me?

When this form is completed accurately and signed, it becomes a binding legal document. When you die we can pay survivor benefits to the people you have identified. The form ensures that your survivors receive benefits quickly and efficiently.

What happens if my survivor benefits are paid to my estate?

Survivor benefits become assets of your estate. According to provincial law, when money is paid into an estate, these assets are used to pay any estate creditors and fees, including probate fees. After creditors and fees are paid, the remaining assets are paid to the beneficiaries named in the Will; in the absence of a Will the estate is settled according to provincial law.

Who can be a designated beneficiary?

Anyone or any organization. If you have an eligible spouse, he/she will be the first in line to receive survivor benefits and therefore cannot be a ‘designated beneficiary’. If you do not have an eligible spouse, or in case your spouse dies before you do, you should designate a beneficiary. A designated beneficiary can be any person(s) or organization you wish. The survivor benefits will be divided equally among each beneficiary you name. See the back of the Identifying Benefit Recipients forms for our privacy statement.

Why shouldn’t I list my spouse as my designated beneficiary?

Pension law dictates that your spouse automatically receives the survivor benefits. A designated beneficiary will receive survivor benefits only if you do not have an eligible spouse or if your eligible spouse has waived the survivor benefit.

What happens when I change my beneficiary?

OPTrust amends its records and no payments will be made to the previous beneficiary when you die. If you have not named another designated beneficiary, other benefit recipient or payment recipient, the survivor benefit is paid to your estate.

What if my beneficiary dies?

Unless you send us an updated form (OPTRUST 1015 or 1015R) naming a new designated beneficiary, other benefit recipient and payment recipient, the survivor benefits will be paid to your estate.

Why should I give you my spouse’s social insurance number?

When you die, the Canada Revenue Agency requires us to report survivor benefits with the recipient’s social insurance number.

What happens if you have my old spousal information on file and I separate from my spouse?

Your spouse’s eligibility to receive survivor benefits is tested at the time of your death. If you are separated from your spouse before your pension starts and at the time of death, he/she will not be eligible for survivor benefits.

Should I tell OPTrust if I get separated or divorced?

Yes, simply send us a copy of your separation agreement, divorce decree, or notice and complete a new Identifying Benefit Recipients form (OPTRUST 1015 or 1015R). We will remove your (former) spouse from our records as a benefit recipient. Your spouse may still have entitlements with respect to your pension as a result of a separation agreement or court order. Please send us copies of these documents.

Should I list my children as designated beneficiaries, in case my spouse dies and I want them to receive survivor benefits?

Yes, list your children as designated beneficiaries. You may also want to list them as other benefit recipients and payment recipients. If you have not named anyone in these categories, the survivor benefit will be paid to your estate.

Why do I have to attach a copy of my marriage certificate?

It is not compulsory that you submit it. However, by collecting this information when you join the Plan or when your status changes, we can administer survivor benefits much more quickly. Rather than trying to find your spouse when you die, we have that information readily available allowing us to simply confirm your spouse’s identification and provide survivor benefits.

Do I have to send copies of the marriage and birth certificates every time I send in a change of information?

If your marital status changes, it’s important that we have the current information and supporting documents. It is not necessary to send in children’s birth certificates.

Why can’t I simply name a trustee in a trust agreement to receive eligible children benefits for my children if they are minors?

The Plan provides some survivor benefits specifically to ‘Eligible Children’. These survivor benefits become ‘the property’ of the eligible children. A trustee cannot be named for eligible children’s property. According to provincial law, if your children are minors and a Guardian of Property has not been established, the survivor benefits may be paid into Court. However, a trustee can be named in a trust agreement for a designated beneficiary, other benefit recipient and payment recipient benefit which goes to a minor.

If I send in this form and then have another child, what should I do?

You will need to resubmit the Identifying Benefit Recipients form (OPTRUST 1015 or 1015R) naming all your eligible children, including your new child. If you only list the new child, you are telling us that you only have one child who may be eligible to receive survivor benefits. Your new child may also be named as a designated beneficiary, other benefit recipient and payment recipient.

Why are the survivor benefits different depending on whether I die before or after retirement? Shouldn’t they be the same benefit?

Provincial law legislates the minimum benefits payable to survivors and that amount is different for pre and post-retirement death.

What are excess contributions and are they automatically payable to my eligible spouse if I die before retirement?

If you die before your pension starts, we compare your contributions plus interest after December 31, 1986 against the pension you earned for the same period. If you contributed more than 50% of the value of your pension, the excess is refunded to the person you named as the other benefit recipient. If you want your eligible spouse to receive any excess contributions you must name him/her as the other benefit recipient. Without an other benefit recipient, the excess contributions refund will be paid to your estate.