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How
to plan ahead to avoid delay
and reduce costs
It’s important to know that benefits that flow from the
OPSEU Pension Plan are not subject to probate fees
if there is an eligible survivor; neither can they
be claimed by other creditors. A surviving eligible
spouse will receive benefits and 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 is 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 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.
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