While legislation existing prior to the introduction of section 30.1.1 (namely, the SLRA and Electronic Commerce Act (Ontario) (ECA)) may be reasonably interpreted to already permit electronic beneficiary designations in pension and certain other contexts, it did not contain an express provision addressing the point.
Ontario Pension Benefits Act
The Pension Benefits Act (Ontario) was recently amended. In this communiqué, we briefly review those amendments.
The Supreme Court of Canada has agreed to hear the Indalex Limited case, which will determine if underfunded pension plans should be treated as a priority when it comes time to liquidate the assets of a bankrupt company.