Changing Your Beneficiary or Spouse
Job and Life Changes

Changing Your Beneficiary or Spouse

Naming a Beneficiary

It is important that you name a beneficiary to receive any survivor benefits that may be payable in the event of your death before retirement. 

If at the time of your death you are not yet retired, and:

we will pay the death benefit to your designated beneficiary. If there is no beneficiary at the date of your death, we will pay the death benefit to your estate.

If you have a spouse, she/he is automatically entitled to the death benefit, unless the Waiver of Pre-Retirement Death Benefit has been signed. 

However, it is still a good idea to name a beneficiary to receive this benefit in the event that your spouse dies before you do – or in the event that you are separated from your spouse at the time of your death.

If you do not have an eligible spouse on the date of your death and have not named any designated beneficiaries, the pre-retirement death benefit will be paid to your estate.

Naming your minor child as a beneficiary

Under Ontario law, a child is considered a minor until the age of 18. You can designate your children as beneficiaries. However, LPF cannot pay a benefit directly to a minor and must pay the benefit to a trustee. 

You can appoint any individual or organization as a trustee for your minor beneficiary using the Beneficiary Designation Form. The trustee will hold any LPF benefit in trust until the minor reaches 18 years of age.

If you do not designate a trustee, LPF will pay the benefit to the minor’s legal property guardian. If there is no guardian, then LPF will pay the benefit to the Accountant of the Superior Court of Justice.

You can change or update your beneficiary by completing and submitting the Beneficiary Designation Form. Each time you update your designated beneficiaries, the new designation replaces the previous one. Therefore, ensure your designation includes ALL primary and secondary beneficiaries you intend to potentially receive a benefit.