A Designated Beneficiary is defined as any person or incorporated organization you designate to receive survivor benefits. These benefits would be paid in a lump sum payment to the beneficiary. A beneficiary may only be designated in the event that you have none of the qualified recipients listed in the “Payment Order of Priority” (below).
Payment Order of Priority
The following is the order of priority in which survivor benefits are paid:
- Spouse and children if any (payment to children is subject to age restrictions);
- If no spouse, the benefit is paid to children (subject to age restrictions);
- If no spouse or children, then to a related person (restricted to certain specified relatives) who was dependent on you by reason of mental or physical infirmity.
NOTE: Children who are automatically eligible to receive a survivor pension are:
- Children up to 18 years of age; and
- Children between 18 and 25 years of age if they are in full-time attendance at a recognized educational institution.
Please make special NOTE of the following:
- To designate a beneficiary you must choose someone other than those listed above in the Payment Order of Priority. None of the above can be designated as a beneficiary as they are already automatically eligible to receive a pension upon your death in the order that they appear above.
- The exception: Adult children who are older than 18 years of age and are not in full time attendance at a recognized educational institution may be designated as a beneficiary.
- You are not required to designate a beneficiary, it is completely optional. If you wish to, please contact the Nova Scotia Pension Services Corporation for more information or click here to go to the forms page and download a Member Information Form.