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ARTICLE · 06 JULY 2018

Missing Pension Plan Members And Unclaimed Balances

Miller Thomson
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Missing or unlocatable plan members and unclaimed balances under registered pension plans are a significant challenge for plan administrators.

CanadaEmployment and HR
Kim Ozubko
Kim Ozubko
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Missing or unlocatable plan members and unclaimed balances under registered pension plans are a significant challenge for plan administrators. On June 21, 2018, the Canadian Association of Pension Supervisory Authorities ("CAPSA") published draft "Guideline #9: Searching for Un-locatable Members of a Pension Plan" ("Draft Guideline"). On June 22, 2018, the federal government published a consultation paper entitled "Modernization of the Unclaimed Balances Regime and Proposals for an Unclaimed Pension Balances Framework" ("Consultation Paper")." CAPSA is accepting comments on the Draft Guideline until August 2, 2018; the federal government is accepting comments on the Consultation Paper until August 21, 2018. In this blog post, we briefly review both the Draft Guideline and the Consultation Paper.

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