What happens to my pension if I die before retirement?

If you die before retirement, your beneficiary or estate will receive the greater of the commuted value of your Minimum Guarantee pension or the balance in your Money Purchase Component Account (both Employee plus Employer portions and investment earnings) plus your Voluntary contributions Account, if applicable.

In the absence of a waiver signed by your spouse, the pre-retirement death benefit will be paid to your spouse, not to your beneficiary if other than your spouse. This is required by legislation.