Jordan Fremont is featured as an industry expert in Benefits Canada's article on draft amendments to pension legislation regarding unclaimed benefits.
"With the current regime, pension balances that remain unpaid due to missing members represent ongoing liabilities, which can prevent an impacted plan from fully winding up and lead to ongoing administrative expenses, he said, adding this has long been a pain point for plan administrators."
The changes clarify who qualifies as a missing beneficiary, stipulate retention periods for unclaimed pensions and aim to decrease administrative burdens. However, they don't address issues concerning ongoing pension plans.
The full article is available on Benefits Canada's website.
Bennett Jones