A Survivors’ Benefit is payable to survivors of a deceased insured person who at the time of death:
The Widow –
The widow will continue to receive benefits as long as she satisfies the conditions or until she remarries or cohabits.
The widower –
The widower will continue to receive benefit as long as he satisfies the conditions or until he remarries or cohabits.
A child –
Natural, Adopted, Step or Illegitimate, unmarried, was living with the deceased, was totally maintained by the deceased.
The child will receive benefit up to the age of 18 or up to age 21 if in full-time education. If the child is an invalid, he/she will receive the benefit for life.
There are two types of Benefit:
The following criteria must be considered:
Average Annual Insurable Earnings = Best 5 years salary over career/5
Weekly rate = Average Annual Insurable x (30 to 60%)/No. of weeks in the year
Monthly pension = Weekly rate x no. of weeks in the month
|YEARS||ANNUAL SALARY||WEEKLY CONTRIBUTIONS|
Best 5 years = $18,720 + $18,720 + $18,720 + $18,720 + $18,720
Average = $93,600/5 = $18,720
Annual Benefit Rate = 18,720 x 30% = 5,616
Weekly Benefit Rate = 5,616/52 x 75% = $180.00 x 75% = $81.00
The minimum Survivors’ Pension for surviving spouse is $52.50 per week.
Survivors’ Pension for children = Deceased weekly benefit rate x 25% = $108 x 25% = $27.00
If there is one surviving child he/she will receive $27.00 per week. Orphans will receive 50% of the deceased weekly benefit rate.
However, if there are 2 or 3 children each child will receive $17.50 because the minimum survivors’ benefit per child is $17.50 per week.
If the amount available for pension is insufficient for distribution to all children, the Director has the authority to decide which children should be awarded the pension.
A benefit is payable to a surviving parent on the death of an insured person where
Amount Of Benefit
50% of the age or invalidity pension in payment to the deceased person at date of death, or amount of age pension earned up to the date of death.
Benefit Calculation of Surviving Parent (an example)
Take weekly benefit rate and find 50%
$108 x 50% = $54 per week
This is a lump sum payment made to the survivors of the deceased insured person.
A claim for Survivors’ Benefit should be made within three (3) months of the date of death of the insured person and should be accompanied by evidence of the relationship (marriage, birth and death certificates, etc.).
Please note the following: