Beneficiary
As a member of the CLAC Pension Plan, it is important that you ensure a beneficiary card has been completed. Without a named beneficiary, in the event of your death, your pension benefits could be awarded to people you never intended.
Who should be your beneficiary?
You may name anyone as your beneficiary; however, the law in certain provinces requires you to name your spouse if you are legally married and currently residing with your spouse, unless a waiver is signed by both you and your spouse.
If you have not named a beneficiary, your pension benefits would become part of your estate or may become frozen until the proper beneficiary can be determined by the courts. It is advisable to store plan documentation with your last will and testament so that your family members know that you are a member of the plan and will contact us in the event of your death.
Listing or changing your beneficiary
If you do not have a beneficiary listed or would like to change your current beneficiary, contact the CLAC Pension Administration office. A new beneficiary card will be mailed out for you to complete.