Records of the pension entitlements of plan beneficiaries.
This records class is a Personal Information Bank.
Related Records | Responsible Unit | Information Steward | Information Confidentiality Classification | Retention | Disposition | Authority | Retention Rationale | Version Information
Content & Scope
The records include a copy of the deceased member's confirmation letter, start up records such as bank authorizations and tax forms, marriage settlement records as applicable, and related correspondence.
Related Records
The plan member's pension card is updated with the records of the beneficiary(ies) under the plan. See HR72 – Pension Cards.
Responsible Unit
Human Resources.
Information Steward
Vice-President, Administration & Finance.
Information Confidentiality Classification
Highly Restricted.
Retention
8 years after all entitlements under the pension plan have been settled.
Disposition
Secure Destruction.
Note
Responsible Units should document the disposal/destruction of official records using the University records destruction form or equivalent documentation, to verify that we are following our records retention rules.
Authority
- University of Waterloo Act, 1972.
- Pension Benefits Act, ss. 19 and 22.
- FSRA Guidance PE0120ORG (formerly FSCO Policy A300-200): Management and Retention of Pension Plan Records by the Administrator.
Retention Rationale
The retention period is based on the University guideline, Human Resources Records.
Approval Date
26 October 2011