OSFI, FSRA forming committee to collaborate on DC pension plans

The Office of the Superintendent of Financial Institutions and the Financial Services Regulatory Authority of Ontario are establishing a new committee to review both regulators’ approaches to supervising defined contribution pension plans.

Through the collaboration, the OSFI and the FSRA is aiming to work toward improving outcomes for DC plan members and, where possible, enhance regulatory efficiency and effectiveness by finding opportunities for harmonization.

Read: Regulators turning their attention to DC plan rules

Interested applicants are invited to submit an application by Wed., Nov. 4, 2020. The two regulators will select members for the committee based on experience, the area of the pension sector they represent and other factors both regulators find relevant.

The committee is aiming to begin its work on Dec. 11, 2020.