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ARTICLE · 30 APRIL 2019

2019 Ontario Budget – Electronic Communications And Beneficiary Designations

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On April 11, 2019, the Ontario government tabled the 2019 Ontario Budget (2019 Budget).

CanadaEmployment and HR
Blakes Pensions, Benefits & Executive Compensation Group
Blakes Pensions, Benefits & Executive Compensation Group
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On April 11, 2019, the Ontario government tabled the 2019 Ontario Budget (2019 Budget). The 2019 Budget announced that the government is considering future changes to the Pension Benefits Act to permit pension plans to communicate with plan members electronically as the default method. The 2019 Budget also amends the Insurance Act to clarify the ability of insurers to accept electronic beneficiary designations for insurance.

ELECTRONIC COMMUNICATIONS

The 2019 Budget states that the government is considering making future legislative changes to the Pension Benefits Act to permit administrators to use electronic communication as the default method of communicating with plan members, with appropriate safeguards. Plan members who prefer to receive paper documents would be given the option to continue to do so.

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