The Financial Services Commission of Ontario (FSCO) is an arm’s length agency of the Ontario Ministry of Finance that is responsible for, among other things, the administration and enforcement of the Ontario Pension Benefits Act (PBA) and regulations. A copy of the PBA and regulations is available on the ServiceOntario e-laws website at www.e-laws.gov.on.ca.
FSCO’s specific responsibilities relating to pension plans include, but are not limited to:
- Registering new pension plans and pension plan amendments.
- Processing required filings and applications from pension plan administrators.
- Monitoring pension plans and pension funds to ensure they are being administered, invested and funded in compliance with legislated requirements.
- Investigating alleged breaches of the PBA and regulations, and taking enforcement action when required.
- Responding to inquiries and complaints from plan beneficiaries. (For more information, see How to Send an Inquiry or Complaint to FSCO.)