Your pension isn’t just about you. It’s also about the financial security of those who depend on you. With that in mind, Silver Thatch Pensions include some important provisions to protect your survivors.

Death before retirement

  • If you have a spouse and die before you start receiving retirement benefits, your Silver Thatch Pensions investment will be re-registered in the name of your spouse. Your spouse will be entitled to the same benefits that would have been available to you. However, they will not be able to elect a benefit option or start drawing a retirement income until they are eligible to retire.
  • If you do not have a spouse and die before you start receiving retirement benefits, your Silver Thatch Pensions investment can be cashed in by your personal or estate representative. The representative must complete a Request for Payment by Personal Representative Form, available from Saxon Pension Services, the Plan’s client services agent.

Death after retirement

If you die after retirement and have a spouse, he or she will be entitled to certain benefits immediately. These benefits will depend on the benefit option you selected at retirement.

  • If you chose an annuity, that annuity will provide a lifetime benefit to your spouse after your death.
  • If you chose a retirement income fund or Retirement Savings Arrangement (RSA), your Silver Thatch Pensions investment will be re-registered in your spouse’s name and your spouse will continue to receive the benefits that would have been paid to you.

If you die after retirement and do not have a spouse, the benefits payable will depend on the option you selected at retirement.

  • If you chose an annuity, chances are no further benefits will be payable. (There is one exception. If you elect an annuity that is payable for a minimum period and you die within that period, some benefits may still be payable.)
  • If you chose a Retirement Income Fund (RIF) or Retirement Savings Arrangement (RSA), your remaining Silver Thatch Pensions investment can be cashed in by your personal or estate representative. The representative must complete a Request for Payment by Personal Representative Form, available from Saxon Pension Services, Silver Thatch Pensions client services agent.