Joint and Survivor Annuity

Available to everyone who is married

The 50% Joint and Survivor Annuity is the normal or default form of payment if you are married and you don’t choose a different payment option (with your spouse’s consent).

How Long Benefits Are Paid

  • A reduced monthly benefit is paid to you for your lifetime.
  • If you die before your spouse, he or she will receive a monthly benefit for the rest of his or her life. If your spouse dies before you, no benefits will be paid to a new beneficiary when you die. In addition, once your payments start, you cannot change your payment option—even if your spouse dies before you or you get divorced.
  • The monthly benefit amount is calculated based on your age and your spouse’s age when your benefit payment is to start, and you choose the monthly amount your spouse is to receive after you die, such as 50% or 75% of your monthly benefit. Refer to the personalized Pension Calculation Statement you will receive in your Pension Benefit Commencement Kit for the benefit amounts.

Why Choose It

  • You are married at the time you elect your benefit.
  • You want to provide ongoing monthly benefits to your spouse for his/her lifetime.
  • Your spouse will not consent to a different form of payment.