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Adjustments to your pension

The type of pension you choose is your starting point. Let's explore some of the adjustments you could see to your retirement income.

Survivor pension

If you have a spouse when we make your first pension payment, they’re automatically entitled to a spousal survivor pension when you die. The amount of that pension depends on the options you choose before retirement. Once we make your first pension payment your choice is irrevocable. The reduction to your pension is permanent, even if your spouse dies before you, or if you separate or divorce.

Your pension will be reduced for these two survivor pension levels:

  • The default amount which is equal to 60% of your lifetime retirement pension
  • A higher survivor pension, which can be up to 75% of your lifetime retirement pension

Your pension won’t be reduced if your spouse waives their entitlement to the 60% survivor pension. This lower option provides a survivor pension as low as 50% of your lifetime retirement pension, which doesn't include the bridge benefit.

Use the pension calculator in your account to see the projected cost of different survivor pension levels.

Learn more about post-retirement survivor benefits

10-year pension guarantee

If you die before receiving 10 years' worth of pension payments, your eligible survivor will receive 100% of your lifetime retirement pension for the balance of the 10 years. You can choose this benefit at a minimal cost.

This benefit is free and automatic if you don’t have an eligible spouse at retirement.  Any balance remaining on the 10 years of pension payments will be paid as a survivor pension to any dependent children or as a lump sum to your estate.

CPP bridge benefit

We provide a bridge benefit, which is intended to supplement your retirement income until age 65 when you’re eligible for an unreduced CPP pension. You’ll receive this bridge benefit until age 65 or the date you start a CPP disability pension (if applicable), whichever comes first. Once you reach age 65 or start a disability pension, the bridge benefit ends and your pension is adjusted.

We’ll calculate your bridge benefit when you retire. Use this bridge benefit calculator to get a rough idea of how much it might be. The pension calculator in your account will also show an estimate of your bridge benefit.

Learn more about the bridge benefit

Inflation adjustments

Your annual cost-of-living increase is determined each year after you retire.

You don’t bank or accumulate a particular level of inflation protection while you work.

You’ll receive 100% inflation protection for the pension credit you earned before 2010, and a variable amount for pension credit you earned after 2009, depending on our funded status.

Learn more about inflation protection

Family Law Value (separation or divorce)

Your pension will be reduced if you separate or divorce before you retire and you chose to use a portion of your pension entitlement to settle your equalization obligation.

Learn more about Family Law Value