Statement of Investment Policies and Procedures Information Summary (Form 14)

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Effective January 1, 2016, pension plan administrators are required to file statements of investment policies and procedures (SIPP), for all registered pension plans, with the Financial Services Commission of Ontario (FSCO). 

The SIPP is a document that contains investment policies and procedures in respect of a plan's portfolio of investments and loans. The requirement to establish a SIPP is set out in section 78 of Regulation 909 (the Regulation) established under the Pension Benefits Act. 

In addition to filing the SIPP, FSCO requires the administrator to file a SIPP Information Summary (Form 14). Form 14 will provide FSCO with general information about the plan's SIPP and the plan's compliance with the Regulation and the Federal Investment Regulations.1 Form 14 will also enable FSCO to provide Ontario pension plans with useful benchmarking information on industry investment practices. 

The administrator must file Form 14 and a SIPP for each registered pension plan that it administers, in accordance with the following filing deadlines:

  • for plans registered before January 1, 2016, the SIPP must be filed by March 1, 2016;  
  • for plans registered on or after January 1, 2016, the SIPP must be filed within 60 days from plan registration; and
  • the SIPP does not need to be filed annually, but an amendment to the SIPP must be filed  within 60 days after it is made. 

Form 14 must be completed and filed through FSCO's Pension Services Portal (PSP) and the SIPP must be uploaded as an attachment to the form.  Form 14 will be available on the PSP effective January 2016. Administrators may delegate the authority to complete Form 14 and upload the SIPP, using the appropriate protocols on the PSP.  

 

Form 14 has been designed to accommodate a wide variety of plan types, and may appear lengthy. However, when completing the form on the PSP, administrators will only need to fill out the sections applicable to their plan and certain information will be auto-populated.

A specimen copy of Form 14 and the corresponding User Guide is available on our website. The specimen form cannot be used for filing purposes.  Form 14 must be completed and submitted through the PSP.
 
There is currently some overlap between Form 14 and other FSCO forms and filings. FSCO will be reviewing its required forms and filings to minimize this overlap. 

 

1 The Federal Investment Regulations (FIR) are defined in section 66 of the Regulation as sections 6, 7, 7.1 and 7.2 and Schedule III to the federal Pension Benefits Standards Regulations, 1985 made under the Pension Benefits Standards Act, 1985 (Canada) as they may be amended from time to time. The FIR are incorporated by reference in sections 78 and 79 of the Regulation.  
 

Inquiries


Financial Services Commission of Ontario
Pension Division
5160 Yonge Street, 4th Floor, Box 85
Toronto ON  M2N 6L9
Telephone: 416-250-7250

Toll-free: 1-800-668-0128 Ext. 7250
E-mail: PensionInquiries@fsco.gov.on.ca

 
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