FSCO – Benefits Canada.com

FSCO releases guideline for administrative penalties under pension act

mschmit — Wed, 14 Nov 2018 11:45:03 +0000

The Financial Services Commission of Ontario has released its guideline for administrative penalties related to violations of the province’s Pension Benefits Act. The change was introduced at the beginning of 2018, with the superintendent given the authority to impose monetary penalties for certain violations of the act and its regulations. Unlike a fine, these penalties have […]

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How Ontario’s pension regulation changes will impact DC plans

mschmit — Fri, 19 Oct 2018 03:51:59 +0000

Ontario’s pension regulatory landscape has seen a number of recent changes, with many of these affecting defined contribution plan sponsors, according to one expert. Speaking at the 2018 Defined Contribution Investment Forum in Toronto in September, Mark Eagles, senior manager for pension policy at the Financial Services Commission of Ontario, took delegates through the changes. The […]

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FSCO opens consultation on updated pension surplus policies

mschmit — Wed, 17 Oct 2018 12:00:45 +0000

The Financial Services Commission of Ontario is in the process of updating its surplus policies. Once released, the updated policies will be posted for consultation, with the public invited to submit comments by Nov. 12, 2018. The policies outline the FSCO’s expectations regarding applications for the payment of a surplus to employers, plan members, former members, […]

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Ontario DB pension plan solvency up despite equity troubles

mschmit — Mon, 07 May 2018 12:45:36 +0000

In spite of volatile public equity markets, the median solvency ratio for Ontario’s defined benefit pension plans was slightly higher at 95 per cent for the first quarter of 2018, compared to 94 per cent at the end of 2017, according to the Financial Services Commission of Ontario’s latest quarterly report. Equity markets were down in the first […]

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DB solvency ratios inch up: FSCO

mschmit — Tue, 13 Feb 2018 07:40:51 +0000

1 in 4 plans now have more than 100% solvency

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Only 36% of Ontario Plans Report on ESG

mschmit — Thu, 03 Aug 2017 03:38:58 +0000

FSCO report shows pensions lag in reporting.

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