Life Events

HomeHomeCareersBenefitsRepresented Retiree (on or after Jan 1, 2010)Life Events

​Life Events


Retiring

You cannot continue your coverage under the Health Care, Dental Care, Long-term Disability Insurance or Business Travel Accidental Death and Dismemberment Insurance Plans once you retire from NAV CANADA.
 
Basic Life Insurance Plan
If you retire with at least two years of service and take an immediate pension:

You can maintain your coverage if you opt in writing within 31 days of your last day of employment.

You will be covered for the same amount as when you retired, if you were under age 61. Your coverage reduces by 10% (of your full coverage in effect on your 61st birthday), on April 1 or October 1 immediately following your 61st birthday and every year after that, until it reaches $5,000. Coverage reduces to $5,000 on the first reduction date after your 70th birthday.

You can apply for the reduced coverage of $5,000 anytime; however, you will not be able to increase it later. To take the reduced coverage, complete the Basic Life Insurance Paid-Up Amount Application. You can also cancel anytime and buy an individual policy.

Any required cost is deducted from your pension. If your premiums are higher than your pension amount, you must send post-dated cheques for the required premium in advance to your Pension Advisor.

If you leave NAV CANADA and defer your pension:

You can maintain your coverage if you opt in writing with 31 days of your last day of employment. You must send a written request to your Pension Advisor with a cheque for the first 12-month payment. You will be covered for the same amount as when you left NAV CANADA if you were under age 61.

Your coverage reduces by 10% (of your full coverage in effect on your 61st birthday), on April 1 or October 1 immediately following your 61st birthday and every year after that, until it reaches reduces to $0 at age 70 (the minimum coverage of $5,000 does not apply).

Published on February 01, 2016