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Home » Why lost pension plan members should be a concern for HR
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Why lost pension plan members should be a concern for HR

staffBy staffFebruary 22, 20241 Min Read
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Thousands of pension plan members in Ontario have lost track of their pension plan, which is estimated to equal over $3 billion in benefits, according to Ontario’s financial services regulator.

Losing track of a pension plan can happen when, for example, plan members earn a small benefit at the start of their career and then after a year or two, change employers and forget about their entitlement.

In the context of a defined benefit pension plan, these individuals become deferred vested members, said Tom Stevenson, partner at Torys LLP.

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