GUIDELINES FOR SURVIVING SPOUSES IN THE EVENT
OF DEATH OF RETIREES OF THE IDB-IIC

I. Background Recommendations

It is highly recommended to select in advance a lawyer to handle legal and tax issues.  This is especially important if the person dies outside of his/hers country of residence.

Beneficiaries must be officially designated in the Bank according to the rules.  This is applicable both for the Retirement Plan and the Life Insurance Program.

It is strongly recommended – indispensable in some countries – that retirees have an updated Will and have a registry of life insurance policies available.

It is recommended to designate in advance a relative or close friend to make funeral arrangements.  All previously executed powers of attorney should be readily available as a reference.

II. Immediate Steps After Death

Securing legal medical certification of date and cause of death.

It is recommended that at least 10 copies of this certificate be requested for the Bank and other institutions.

Notify as promptly as possible the Secretariat of the Pension Plan and the Insurance Section in headquarters, or the Administrative Officer in the Country.

III. Claims and Definitions

The Secretariat of Pension Plan and the Insurance Section will notify the surviving spouse which documents are needed for the pertinent handling of situation.

Request life insurance payments and survivor pension validation.

Determination of country and place of residence for surviving spouse

Notification to the Institution of the address of the surviving spouse.

The Bank will notify in writing the new amount of pension, tax status, medical insurance and other post retirement benefits to which the surviving spouse or other beneficiaries are entitled.

Legal advice may be needed for the identification of the beneficiary, the execution of the Will, insurance claims, taxes and other matters. Tax related issues are particularly important since there are legal deadlines for different procedures, ignorance of which may lead to fines or other penalties.

Dec.2005