Plan amendment: spousal pension waiver

August 16, 2016

A recent plan amendment allows us to recalculate your pension if your former spouse waives his or her entitlement to a spousal survivor pension.

We’ll recalculate your pension effective the first of the month following the month in which we receive the waiver. The recalculation results in the removal of the actuarial reduction for a higher survivor election and/or the adjustment for the 10-year pension guarantee.

To waive his or her entitlement to a spousal pension:

  • your former spouse must submit a waiver form created by the Financial Services Commission of Ontario (FSCO Family Law Form 8), and

  • a waiver must be specified in your settlement agreement.

If you remarry, you can provide a survivor pension to a new spouse on or before 90 days after we receive a valid waiver without being required to complete a medical.