How to change your beneficiary after retirement
Find out if you are eligible to change your beneficiary after you retire – and what you need to do.
Your ability to change your beneficiary after retiring depends on two things:
- Whether you have a spouse
- The pension option you selected when you applied for your pension from BC's College Pension Plan
Are you eligible?
If you selected a joint life pension option
If you selected a joint life pension with a 5-, 10- or 15-year guarantee, your spouse must be your beneficiary; they cannot waive this right. However, you can name an alternate beneficiary(ies) to receive your pension benefit should your spouse die before you during the guarantee period.
If you selected a single life pension option
If you selected a single life pension with a 5-, 10- or 15-year guarantee, you can change your beneficiary if the guarantee period has not expired. If your spouse is currently your beneficiary, they may need to complete a waiver. Contact the plan for more information.
How to change your beneficiary
If you are eligible, change your beneficiary(ies) online through My Account or by submitting a Change of beneficiary (for retired member) form to the plan.
If you are divorced or separated, all beneficiary nominations must comply with any separation agreements or court orders.