Federal budget promising relief for DC pension plan under, over contributions

By Julius Melnitzer | May 6, 2021

Tucked away in the federal budget are proposals that will lighten the load for defined contribution pension plan administrators confronted with historical under and over contributions.

“These errors are usually inadvertent system or software issues or new regulatory guidance or rulings that have retroactive effect,” says Mark Firman, a pensions and benefits lawyer with Stikeman Elliott LLP. “The budget proposals should  make it easier for administrators to deal with these issues.”

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Julius Melnitzer is a Toronto-based legal affairs writer, ghostwriter, writing coach and media trainer. Readers can reach him at [email protected] or https://legalwriter.net/contact.

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