DIL Representative Action Update – Feb 25, 2022

The DIL representative action is being managed by Sugden, McFee, and Roos who are handling who has updated the webpage for the action. The December 8, 2021 update’s been removed, and a February 25, 2022 update has been added.

Following is a copy-and-paste of the Feb 25 update.

Update: February 25, 2022

As per the Approval Notice, all class members who have or have had an RRSP, TFSA and/or RRIF account with Canada Life (formerly Great West Life) will have their settlement payments deposited to those accounts. Closed accounts will be reopened for this purpose. We expect that Canada Life will have processed those deposits by March 3, 2022.

Class counsel does not have access to class members’ Canada Life account numbers.  Class members must contact Canada Life directly for that information.  A semi-annual statement will be issued by Canada Life in June/July 2022 reflecting the payment; accordingly, class members should ensure that Canada Life has been provided with their current mailing address.  However, class members may contact Canada Life at any time to access the funds in their accounts.

Class members who have never had an account with Canada Life/Great West Life or who are over the age of 71 and are therefore not eligible to make deposits to their RRSP have received an election form in the mail whereby they may elect to have their settlement funds paid to their account at a different financial institution, or to them directly by cheque. The deadline for making this election is March 1, 2022 and the election form must be received by the Settlement Administrator MNP Ltd. by this date. The election form may be emailed to the Settlement Administrator at dillccsettlement@mnp.ca. All elections will be honoured and settlement payments made by April 1, 2022. For those class members from whom an election form is not received, settlement payments will be issued by cheque to the class member’s last known mailing address.

Questions regarding the payment process may be forwarded to the Settlement Administrator at dillccsettlement@mnp.ca.

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