It is important to regularly review your beneficiary information so that your pension benefits will be paid according to your wishes. The Plan administers pre- and post-retirement death benefits in accordance with B.C. pension legislation and the designations that we have on file at the time of your death.
Pension legislation requires that your spouse be named as your primary beneficiary unless your spouse waives their entitlement by completing a Form 4 – Spouse’s Waiver form. If you do not have a spouse, a beneficiary may be an individual(s), an institution, a trustee, or your estate. You can also name a secondary/contingent beneficiary, where upon your death, if the primary beneficiary has pre-deceased you, the secondary /contingent beneficiary will receive the death benefit. If you do not designate a beneficiary, the default beneficiary on record will be your estate.
Where can I view my beneficiary information?
Your beneficiary information is available by signing into mysunlife.ca/ubcfpp. Under Investments, select Manage plan > my plan > Make a change > Manage beneficiaries. Your quarterly statement of account also confirms your beneficiary information.
Changing your Beneficiaries
Changes in your life may occur that mean you may need to change your primary and/or secondary beneficiary on file. The following are life changes that may require you to change your beneficiary:
- newly married / common-law spouse
- marriage breakdown, separation or divorce
- welcoming a new child
- death of a loved one
If you wish to change your beneficiary, please print and complete a Change of Records form and submit it to Sun Life. It is important to note that all previous beneficiary designations on file will be overwritten once a new Change of Record form has been received. Therefore, all sections relating to beneficiary designations must be completed to ensure your beneficiary information is up to date.
Further information
For beneficiary designation information, visit Designating your Beneficiary.
For pre- and post-retirement death benefit details, visit In the Event of your Death