Section 43Part 2 — Defined Benefits
In-service death benefit
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43. (1) If an active defined benefit plan member dies in Service, upon that person’s death there shall be paid to the deceased plan member’s designated beneficiary an amount equal to the excess, if any, of the greater of —
twelve times the plan member’s final average pensionable earnings, determined as at the date of that person’s death; or
the plan member’s contribution account balance determined as at the date of that person’s death, over the actuarially equivalent present value determined by reference to Plan actuarial tables of the benefits, if any, payable to the plan member’s beneficiaries in accordance with section 42 and regulations.
If the deceased plan member failed to designate a beneficiary, or if that person’s designated beneficiary has predeceased that person and there is no new designated beneficiary, the amount payable under this section shall be paid to the plan member’s estate.