The results of blurred lines in pension administration
Article originally published in Benefits Canada, April 2011
The recent Ontario Court of Appeal decision in the Ault v. Canada (Attorney General) case serves as a reminder to pension service providers that they may have fiduciary duties to plan beneficiaries, and emphasizes the importance of accurate and full disclosure to plan members of relevant information.
The case involved the administration of a public sector pension plan—the Public Service Superannuation Plan (PSSP)—prior to Oct.15, 2000. Prior to this date, members could transfer pension monies between the PSSP and certain private pension plans under reciprocal transfer agreements.
To view the article, please visit the Benefits Canada website.