The Financial Services Regulatory Authority of Ontario is inviting stakeholders to provide their input on the proposed guidance in support of permanent target-benefit framework for multi-employer pension plan sponsors.
The guidance explains how the FSRA will oversee and apply Ontario’s framework, which came into effect on Jan. 1.
Read: FSRA monitoring target-benefit framework, pension risks in 2025
It outlines how the FSRA will review and approve applications to convert defined benefits to target benefits, as well as how the regulator will assess whether a plan’s provision for adverse deviation aligns with its funding and benefits policy and supervise plans that provide target benefits through regular reviews, risk assessments and ongoing engagement with plan administrators.
Comments can be submitted until Oct. 14, 2025.
Read: Ontario to consult on variable life benefits, finalizes target-benefit framework