Normal Forms of Payment
If You Are Married and Have an Eligible Spouse at Retirement
50% Joint and Survivor Option
You will automatically receive a 50% joint and survivor benefit, which entitles you to a monthly benefit for your lifetime.
After your death, your eligible spouse will receive a monthly benefit equal to 50% of your pension at the time of your death. This benefit is payable to your eligible spouse for his or her lifetime. However, if your eligible spouse predeceases you, no survivor benefit will be paid even if you remarry after retirement.
CPF subsidizes the full cost of the 50% survivor benefit, which means that there is no reduction to your own pension to cover the cost of the 50% survivor benefit to your eligible spouse.
Important to know:
- If the minimum spousal pension is greater than a 50% survivor benefit, your eligible spouse will receive the minimum spousal pension instead.
- A spouse’s eligibility for benefits varies considerably depending on factors such as date of marriage, survivor option chosen at retirement, date of death, date of divorce, status of paid Assessments, and other individual circumstances. Please make sure to report any change in your marital status to our Client Services group when the change happens.
If You Are Single or Do Not Have an Eligible Spouse at Retirement
You will automatically receive a single life option, called the zero option, which entitles you to an enhanced monthly benefit for the rest of your life. All payments end at your death, and no further pension benefits will be paid.
Because there is no 50% survivor benefit payable following your death (as there would be if you were married to an eligible spouse), CPF will increase your benefit by the actuarial value of a 50% survivor benefit.
The zero option is meant to provide equitable benefits for clergy who are not married to an eligible spouse when they retire.