Missing Pension Plan Members in Canada

December 3, 2024
By: Dr. Sally Shen; Doug Chandler; He Chen; Dr. Bonnie-Jeanne MacDonald; Dr. Rob Brown; Talia Bronstein

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The National Institute on Ageing (NIA) is proud to announce the release of a pivotal new report, Missing Pension Plan Members in Canada. The report addresses the significant issue of missing pension plan members, highlighting the challenges faced by plan administrators and individuals entitled to unclaimed pension benefits.

Missing pension plan members are individuals who cannot be contacted by their pension plan administrators due to outdated contact details or other challenges such as the death of the plan participant. All countries with private pension systems face challenges with missing pension plan members.

The report draws inspiration from international pension systems to offer a broader perspective on solving this issue. However, the focus is on Canada, where the multi-jurisdictional approach to pension regulations presents unique challenges.

With Canada’s ageing population and the growing complexity of pension systems, the issue of missing pension plan members has become a serious concern. For plans registered in Ontario alone, nearly 200,000 pension plan members are considered missing, leaving behind $3.6 billion in unclaimed entitlements. The NIA's research sheds light on this issue and explores a range of solutions to help reunite Canadians with the retirement benefits they are rightfully owed.