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Keyword: FSRA

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Copyright_Olga Yastremska_123RF

The Financial Services Regulatory Authority of Ontario is seeking feedback on proposed guidance detailing how and when it publishes information about enforcement proceedings and investigations, including those related to pension plans and administrators. According to the draft guidance, this includes the use of news releases and public postings of enforcement actions on the FSRA’s website […]

  • By: Staff
  • August 13, 2021 August 12, 2021
  • 09:05

More than two-thirds (69 per cent) of registered defined benefit pensions plans in Ontario have solvency ratios above 100 per cent, according to the Financial Services Regulatory Authority of Ontario’s second quarterly update. The report found average funded ratios were up for the fifth consecutive quarter, with the median funded ratio reaching 106 per cent […]

  • By: Staff
  • August 4, 2021 August 5, 2021
  • 12:00
Copyright_Mikhail Tsikhanovich_123RF

The Financial Services Regulatory Authority of Ontario is releasing final interpretation guidance to support the role and responsibilities of pension plan administrators. The guidance, an updated and consolidated version of four previous documents, said the administrator’s role includes responsibility for implementing processes to ensure pension plan risks — such as investment, funding, operational and legal — […]

  • By: Staff
  • July 30, 2021 July 29, 2021
  • 09:00

The Association of Canadian Pension Management is calling for increased clarity regarding Ontario’s rules for the valuation and division of pension payments following a marriage breakdown. In response to a consultation by the Financial Services Regulatory Authority of Ontario, the ACPM recommended the draft guidance document include an example of an exception to the rule […]

  • By: Staff
  • May 12, 2021 May 13, 2021
  • 09:00
Copyright_tomertu_123RF

The Financial Services Regulatory Authority of Ontario is issuing leading practices for the province’s defined benefit multi-employer pension plans, in the areas of governance, risk management and communication. In the area of governance, these practices include establishing a comprehensive orientation policy to onboard new trustees to ensure they begin their term prepared to carry out their duty. […]

  • By: Staff
  • March 26, 2021 March 30, 2021
  • 09:00
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 […]

  • By: Staff
  • January 29, 2021 April 14, 2021
  • 15:00
FSRA issues final guidance on missing pension plan members

Ontario’s pension plan administrators and plan members share the responsibility of maintaining current contact information, according to the Financial Services Regulatory Authority of Ontario’s final guidance on missing plan members. It recommended administrators maintain a records management system and retention schedules that support long-term administration of the pension plan and to exercise care and diligence […]

  • By: Staff
  • December 16, 2020 April 28, 2021
  • 09:00
OSFI, FSRA name members of new DC plan committee

The Office of the Superintendent of Financial Institutions and the Financial Services Regulatory Association of Ontario have selected members for their new joint advisory committee on defined contribution pension plans. The committee will review the regulators’ approaches to supervising DC plans and, where possible, enhance regulatory efficiency and effectiveness by finding opportunities for harmonization. Read: […]

  • By: Staff
  • November 20, 2020 November 20, 2020
  • 16:00
Ontario DB pension solvency up again in third quarter: FSRA

The solvency ratio of Ontario’s defined benefit pension plans jumped four per cent in the third quarter of 2020, according to an update by the Financial Services Regulatory Authority of Ontario. The increase is further evidence that market recovery is well underway since the coronavirus pandemic rocked the world economy in early 2020, noted the […]

  • By: Staff
  • November 11, 2020 January 19, 2021
  • 08:45
FSRA speeding up consent process for DB pension asset transfers

The Financial Services Regulatory Authority of Ontario is changing its process for consenting to asset transfers under the Pension Benefits Act, citing the province’s current state of emergency due to the coronavirus pandemic. Effective immediately, the new process will allow the FSRA to provide consent through a letter after a 10-day notice period, during which […]

  • By: Staff
  • October 27, 2020 January 19, 2021
  • 08:40