FSRA establishing committee to advise on pension plan regulatory processes

The Financial Services Regulatory Authority of Ontario is establishing a technical advisory committee to provide insights on the province’s existing regulatory processes for employer-based pension plans.

The committee’s 10 to 14 members will examine current regulatory processes in order to improve pension plan administration through cost-efficient and innovative practices. They’ll also discuss approaches to help ensure Ontario’s pension plan members are well-informed regarding their retirement benefits and how those pension benefits are protected.

Read: OSFI, FSRA forming committee to collaborate on DC pension plans

The FSRA is encouraging applications from the following individuals:

  • Union representatives with pension plan experience
  • Representatives of pension plan members, former members and retired members
  • Representatives from think tanks and similar organizations
  • Academics focused on retirement security and pension research, or the Canadian pension system
  • Professionals with deep expertise in the range of retirement vehicles utilized by employers in Canada (for example, actuaries, pension lawyers, and pension consultants) and knowledge of other retirement systems outside of Canada
  • Plan sponsor representatives

Interested applicants are invited to submit their applications by Feb. 18. The new committee will hold three meetings, starting in May.

Read: OSFI, FSRA name members of new DC plan committee