Investment Guidance Notes

FSCO’s Investment Guidance Notes set out FSCO's expectations of plan administrators relating to the investment of pension plan assets, and the administrator’s investment-related obligations under the Pension Benefits Act (PBA) and Regulation 909 (Regulation) under the PBA.
 
The Guidance Notes are posted for public consultation; prior to being finalized and published.
 
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How to Provide Comments

 
There are several ways to submit your comments:
 
  1. Email: pensionconsultation@fsco.gov.on.ca
  2. Mail: Pension Policy Unit
    Financial Services Commission of Ontario
    5160 Yonge Street
    Toronto ON M2N 6L9
  3. Fax: (416) 226-7787
If you need clarifications on the Guidance Notes before submitting your response, please email FSCO.
 
At the end of the consultation period, submissions will be made available upon request, in the language they were received. If you wish your response to remain anonymous, please state this explicitly in your letter. We will take the necessary steps to meet your request. However, please be aware that, should we receive a formal request under Freedom of Information legislation, we may be required to disclose your response, subject to the Freedom of Information and Protection of Privacy Act.
 
 

Closed Consultations:

 

Index No.:
​IGN-005
 
​Consultation Reference:
 
Summary:
 
​Section 78 of the Regulation is amended, effective January 1, 2016, to require plan administrators to file their statement of investment policies and procedures (SIPPs) with FSCO. 
 
This guidance note outlines the content, filing and disclosure requirements for SIPPs, as set out in Regulation 909 under the Pension Benefits Act.  In addition, it outlines factors that FSCO expects the pension plan administrator to consider in establishing and reviewing a SIPP in accordance with its fiduciary duties and as a matter of good governance.   
 
​Posting Date:
 
December 8, 2015
​Deadline for Submissions:
 
​February 8, 2016
Please include a subject line in your letter referencing 'Overview of Statements of Investment Policies and Procedures (SIPP) Requirements'.

 

 

Index No.:
​IGN-004
 
​Consultation Reference:
 
Summary:
 
Section 78 of the Regulation is amended, effective January 1, 2016, to require plan administrators to file their statement of investment policies and procedures (SIPPs) with FSCO.  Under section 78(3), the SIPP must include information as to whether environmental, social and governance (ESG) factors are incorporated into the plan’s investment policies and procedures, and if so, how this is done.
 
IGN-004 provides background information on ESG factors and guidelines to assist pension plan administrators in meeting the disclosure requirement of section 78(3). 
 
​Posting Date:
 
​June 30, 2015
​Deadline for Submissions:
 
​August 28, 2015
Please include a subject line in your letter referencing 'Environmental, Social and Governance (ESG) Factors'.
 
 
Index No.:
​IGN-003
 
​Consultation Reference:
 
Summary:
 
As a result of recent amendments to the Federal Pension Benefits Standards Regulations, 1985 (PBSR) and to the Regulation, the requirements have changed for the statement of investment policies and procedures (SIPP) for plans where the members direct the investment of the assets in their accounts (i.e. member-directed defined contribution (DC) plans and combination benefit or hybrid plans with member-directed accounts).
 
IGN-003 sets out FSCO’s expectations regarding the content of SIPPs for these types of plans in light of these changes; it does not apply to defined benefit (DB) plans, or to DC plans where the administrator directs the investment of the assets.
 
​Posting Date:
 
June 30, 2015
​Deadline for Submissions:
 
​August 28, 2015
Please include a subject line in your letter referencing 'Statements of Investment Policies and Procedures (SIPPs) for Member Directed Defined Contribution Plans'.
 
 
​Index No.:

​IGN-002

 

​Consultation Reference:

Prudent Investment Practices for Derivatives [PDF Document] Size: ## kb

 

Summary: 

 

The Guidance Note provides plan administrators detailed assistance with respect to prudent investment practices related to derivatives.

 

​Posting Date:

 

​October 24, 2014

​Deadline for Submissions:

 

​November 24, 2014
Please include a subject line in your letter referencing 'Prudent Investment Practices for Derivatives'.
   
 
Index No.:​

​IGN-001

 

​Consultation Reference:

​Buy-In Annuities for Defined Benefit Plans [PDF Document] Size: ## kb

 

​Summary:

​The Guidance Note provides information for plan administrators of defined benefit plans about FSCO's expectations with respect to the investment of pension plan assets in buy-in annuities.

 

​Posting Date:

​October 7, 2014

 

​Deadline for Submissions:

​November 7, 2014

 

Please include a subject line in your letter referencing 'Buy-In Annuities for Defined Benefit Plans'.
 
 
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