The Pension Benefit Guaranty Corporation(PBGC)is holding US$133 million in unclaimed pension benefits for 32,000 individuals owed money from terminated defined benefit(DB)plans.

For those still missing, individual benefits range from $1 all the way up to $611,028, and average about $4,950.

“Although the vast majority of workers receive their full pension,” says Vince Snowbarger, the PBGC’s interim director, “sometimes people lost track of benefits earned with former employers.”

The organization has set up an online pension search directory to help people find unclaimed benefits. To visit it, click here.

To comment on this story email craig.sebastiano@rci.rogers.com.

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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