The Commission has released a final report on Creating Efficiencies in the Law: The Beneficiary Designation Act (Retirement, Savings and Other Plans).
The Commission makes eight recommendations to improve The Beneficiary Designation Act. If implemented, these recommendations would help to fill gaps in the current legislation. This report is limited to reviewing specific aspects of The Beneficiary Designation Act and is not a wholesale review of the Act. It forms part of a series of reports entitled Creating Efficiencies in the Law, which seek to address discrete, straightforward issues that, in the Commission’s view, can be improved with relatively simple legislative amendments.
To read the report, click here.