Joint-life and last-survivor insurance products pay regular retirement income until the first or last death of a couple, thereby incorporating widow(er) pensions within a single contract. We propose a design for such products as pooled annuity funds-modern tontines-in which longevity risk is shared directly among participants without requiring an external guarantor. Surpluses generated by deaths and widowing events are redistributed among couples and widowers in an actuarially fair manner. A central contribution is the concept of widowing credits, which capture both the reduction in retirement income and the change in survival probabilities following the death of one partner. The design accommodates heterogeneous entry ages and permits open entry at any time without disadvantaging incumbent members. To assess payout uncertainty and the role of spousal lifetime dependence, we conduct stochastic path-wise simulations under both independent and correlated lifetime specifications. We thank participants of the 1st ASTIN conference in Zurich 2026 and seminar participants at the University of Melbourne, Monash University, and UNSW Sydney for fruitful discussions and helpful comments.