As part of the initiative to communicate and to broaden stakeholder engagement, FSCO has held various consultations with its stakeholders in the pension community since 2009. Specifically, FSCO has been consulting with specialists in the pension community, as well as with the public on various initiatives that it will be undertaking in the administration of the Pension Benefits Act and the regulations. The perspectives and insights provided by our stakeholders in the pension community have been essential in guiding the direction of FSCO's initiatives and projects to date.
FSCO appreciates the valuable contributions of our stakeholders. FSCO's policies and operational initiatives are enriched by their input, advice, ideas and suggestions.
FSCO will continue to review its consultation process to ensure that its stakeholders are fully engaged in the initiatives, and that their views and concerns are being heard.
Consultation periods will typically range from 30 to 60 days, depending on the nature and complexity of the initiatives. As the consultations and projects move forward, access to information on the release of the documents, the timing of submissions and the feedback received will be readily available to all stakeholders from the listing provided on this page.
We encourage all parties interested in pension matters to participate in these consultations. In submitting comments, please include the appropriate Consultation Reference noted below. As submissions will be made publicly available on FSCO's website under Stakeholder Comments at the end of the consultation period, please note that if you do not want your submission to be made public, please clearly indicate this in your submission.
There are a number of options for submitting your comments:
Thank you for your interest and participation.
FSCO Projects Update
2011 Report on the Improving Pension Regulatory Services (IPRS) Project Size: 467 kb
This multi-year initiative focuses on improving pension regulatory services. This report provides clear information on the focus of the IPRS project, the accomplishments in 2011 and the next steps under consideration.
Date Posted: March 9, 2012
Financial Statements Guidance Notes
FSCO began issuing consultation documents on guidance related to financial statements to pension plan administrators/auditors in the form of Financial Statements Guidance Notes (FSGN) in August, 2012. The first consultation document (FSGN #1 – Disclosure Requirements for Financial Statements Filed Pursuant to Regulation 909 s. 76 Size: 627 kb) was available for comment until October 25, 2012. Consultation papers will precede the formal issuance of guidance notes. More information and the final document can be found under Financial Statements Guidance Note Consultations.
Consultation Reference: Financial Statements Guidance Note #1 Size: ## kb
Size: ## kb Date Posted: August 30, 2012
Deadline for Submissions: October 25, 2012
Actuarial Guidance Notes
FSCO has been providing guidance on actuarial matters to the actuarial community in the form of Actuarial Guidance Notes. The consultation paper, Actuarial Guidance Note #3 - Determination of Interest Payments Where Solvency Special Payments Are Covered by Letters of Credit Size: ## kb, will precede the formal issuance of the third Actuarial Guidance Note. All stakeholders are encouraged to review this document and submit their comments. Submissions must be made within 30 days of the posting date of the consultation paper. More information can be found under Actuarial Guidance Consultations.
Consultation Reference: Actuarial Guidance Note #3
Date Posted: May 6, 2013
Deadline for Submissions: June 7, 2013
Actuarial Guidance Note # 2 - Determination of the Solvency Liability Adjustment Size: 278 kb
Consultation Reference: Actuarial Guidance Note #2
Date Posted: April 3, 2012
Deadline for Submissions: May 3, 2012
Actuarial Guidance Note #1 - Canadian Institute of Actuaries, Practice-Specific Standards for Pension Plans effective on December 31, 2010 Size: ## kb
Consultation Reference: Actuarial Guidance Note #1
Date Posted: April 21, 2011
Deadline for Submissions: May 21, 2011
Risk-Based Regulation Framework
Final Risk-Based Regulation Framework Size: 1065 kb
The framework has been finalized taking into consideration stakeholder comments.
This consultation paper Size: 4502 kb solicits pension stakeholders’ comments and feedback on FSCO’s proposed broad-based framework for the risk-based regulation of pension plans in Ontario. The purpose of introducing this framework is to improve FSCO’s overall effectiveness in its monitoring of key pension risks, and to ensure appropriate regulatory response is taken by FSCO to address risk situations, thereby better protecting the interests of pension plan beneficiaries.
Consultation Reference: Risk-Based Regulation Framework
Date Posted: March 8, 2011
Deadline for Submissions: April 7, 2011
Consultation Policy on Administrator’s Management of Inquiries and Complaints from Plan Beneficiaries Size: 252 kb and Consultation Guideline for Developing a Written Policy on Managing Inquiries and Complaints from Plan Beneficiaries Size: 221 kb.
This draft policy and related guideline are intended to clarify the responsibilities of plan administrators in responding to inquiries and complaints from plan beneficiaries. The documents also provide information on how inquiries and complaints can be effectively managed.
Consultation Reference: Inquiries and Complaints
Date Posted: December 15, 2010
Deadline for Submissions: February 11, 2011
Consultation Paper on FSCO’s Proposed Solutions, Service Goals and Processes for Defined Benefit Pension Applications Size: 302 kb
This consultation paper solicits pension stakeholders’ comments and feedback on FSCO’s proposed solutions, service goals and processes for reviewing defined benefit pension applications. For your convenience, the earlier Consultation Paper on the Review of Defined Benefit Pension Application Processing, which was released in the spring of 2009, is included in this consultation paper as Appendix 2.
Consultation Reference: Application Processing
Date Posted: January 11, 2010
Deadline for Submissions: February 10, 2010
Stakeholder Comments: No comments were submitted to this public consultation
Consultation Policy on Management and Retention of Pension Records by the Administrator Size: 132 kb
This draft policy is intended to provide plan administrators with information on their obligations and responsibilities related to the management and retention of pension plan records. The policy also provides the administrator with practical guidelines and instructions on prudent record keeping practices.
Consultation Reference: Records Retention
Date Posted: December 22, 2009
Deadline for Submissions: February 26, 2010