Change your pension option
You have 60 days after your pension is granted to change your pension option.
You have 60 days from when your pension is granted to change your pension option. After that time, your selection is final and cannot be changed.
If you did not have a spouse at retirement
If you did not have a spouse when your pension was granted, you have 60 days to change your pension option based on any new information you may have received since submitting your pension application.
If you had a spouse at retirement
If you had a spouse when your pension was granted, you have 60 days to change your pension option, but your possibilities are limited to protect your spouse's rights.
Under plan rules and provincial legislation, your spouse has both the right to:
- Be the sole beneficiary of your pension
- Receive a minimum 60 per cent lifetime death benefit
This means you must choose a joint life option that provides a lifetime death benefit to your spouse, unless your spouse waives their entitlement. Your spouse can only do so before your pension starts. Once it starts, these rights cannot be waived or reduced.
If your spouse dies within 60 days of your pension being granted, you can change to any pension option because there is no longer a need to protect their rights to your pension. If they die after the 60-day period, you cannot change your pension option.
Please contact us as early as possible for help with changing your pension option.
Related content for changing your pension option
Change your beneficiary after retirement