The impact of recent Ontario Pension Benefit Act changes
The impact of recent Ontario Pension Benefit Act changes
The impact of recent Ontario Pension Benefit Act changes
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November 21, 2012<br />
Electronic transmission <strong>of</strong> information<br />
Details<br />
Electronic communication<br />
consists <strong>of</strong>:<br />
• delivery <strong>of</strong> pension<br />
statements, notices, reports<br />
and other prescribed<br />
documents to members and<br />
beneficiaries<br />
• maintenance <strong>of</strong> corporate<br />
intranet or secure internet<br />
website where member can<br />
access plan information<br />
Impact to plan sponsor<br />
• Explicit or implied member<br />
consent must be obtained<br />
• Disclosure <strong>of</strong> member rights must<br />
be made<br />
• Universal consent likely not<br />
achievable<br />
• Longer term project – obtaining<br />
consent and deciding on which<br />
documents could be delivered<br />
electronically<br />
• Legal input on consent may be<br />
needed<br />
17<br />
2012 <strong>Ontario</strong> <strong>Pension</strong> Changes
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