Designation change or cancellation of benefit for Part II of the Canadian Forces Superannuation Act Supplementary Death Benefits Plan
The Canadian Forces Superannuation Regulations now permit the designation of a beneficiary for the receipt of a Supplementary Death Benefit under Part II of the Canadian Forces Superannuation Act.
Designation of Beneficiary
The designation of a beneficiary, which may be made at any time, is voluntary and remains valid until changed or cancelled by you.
Previous provisions for the payment of benefits may apply
IN THE CASE OF A MALE PENSIONER who was a participant in the Supplementary Death Benefit Plan before 20 December 1975, payment of a benefit upon death will be as follows:
- To the widow if she was married to the participant prior to 20 December 1975, OR,
- To the estate of the participant if the widow was married to the participant after 19 December 1975 or if no widow survives the participant.
Therefore it is not necessary to complete a Designation of Beneficiary form unless the benefit is to become payable to a beneficiary other than stated above.
IN THE CASE OF A FEMALE PENSIONER who was a participant in the Supplementary Death Benefit Plan before 20 December 1975, there is no change respecting the payment of a benefit upon your death, i.e. it remains payable to your estate. therefore there is no necessity for you to complete a designation of beneficiary form unless you wish the benefit to become payable to a beneficiary other than your estate.
Who May Be Designated
A participant may designate one only of the following as beneficiary: the participant's estate, any person who is over the age of eighteen years at the date on which the form is signed and witnessed, any charitable organization, any benevolent organization or institution and any eleemosynary religious or educational organization or institution.
The full name, address and date of birth of the beneficiary must be given in the space provided. If you wish to name your estate as beneficiary rather than any person, institution or organization, you insert the words "MY ESTATE" in the space provided.
Form and Manner of Designation of a Beneficiary
Should you wish to designate a beneficiary, form 497 is to be completed in duplicate. A designation will not be valid until a properly completed Designation of Beneficiary form, which has been signed by you in the presence of a witness, is received by the addressee show at the bottom of the enclosed form.
Change or Cancellation of Beneficiary
If you designate a beneficiary and subsequently wish to change or cancel the designation of beneficiary, form 497 must be completed and sent as above.
Designation, Change or Cancellation of Beneficiary Deemed Not to Have Taken Place
A designation, change or cancellation made by you shall be deemed to have not taken place unless the completed form is received by the addressee, referred to above, prior to your death.
Payment of Benefit if Beneficiary Designated
If you designate a beneficiary, the benefit will be paid to the beneficiary. If the designated beneficiary predeceases you and you have not designated a new one, the benefit will be paid to your estate. If the beneficiary dies after you, the benefit is payable to the beneficiary's estate.
Acknowledgement of Receipt of Completed Forms
The duplicate copy of the form will be returned to you as acknowledgement of its receipt.
