The Canada Revenue Agency is waiving the minimum one per cent employer contribution requirement for defined contribution pension plans for the rest of 2020. To take advantage of the contribution relief, employers must amend their DC plans to suspend accruals for the year, meaning no employer or employee contributions can be made. Further, DC plan […]
With coronavirus causing market volatility and an increase in the size of solvency liabilities, pension plans are feeling the impact. One potential way for plan sponsors to ease the pain is by performing an early actuarial valuation to capture year-end 2019 numbers. Most Canadian jurisdictions require plans to file valuations every three years, however a […]
The Financial Services Regulatory Authority is creating three new technical advisory committees, which will provide advice and feedback to the regulator on pension sector related matters and will form part of its stakeholder engagement process going forward. The aim is to improve processes and approaches to regulation and reduce regulatory burden, noted a press release. […]
The Pension Investment Association of Canada has released comments on the proposed strategic priorities for the newly formed Financial Services Regulatory Authority of Ontario, which will officially launch this spring. “In our first year, our focus is on burden reduction and regulatory effectiveness,” the FSRA said in a consultation paper on proposed priorities for 2019-20. […]