Notice To All Pension Plan Administrators

February 11, 2009

The Financial Services Commission of Ontario (FSCO) issued the 2008-2009 assessment invoice for your pension plan on February 11, 2009. This page includes background information on the final cost for 2007-2008 and the preliminary cost for 2008-2009.

The 2008-2009 Pension Costs

The pension assessment invoice includes a prior year adjustment for actual FSCO pension expenses in 2007-2008 and the preliminary pension assessment for 2008-2009. FSCO is required to recover these costs prior to the end of each fiscal year.

Please note that, since 2007/08 was the first assessment cycle, your 2007-2008 invoice did not include a prior year adjustment.

Final 2007-2008 Adjustment

For the 2007-2008 fiscal year, the preliminary pension assessment for the entire pension sector was $13,626,596.98.

The actual pension assessment was $12,538,604.61. This results in an adjustment of $1,087,992.37, as a credit to be returned to the pension sector. Your credit amount appears on your invoice as a PY (Prior Year) Adjustment.

2008-2009 Preliminary Pension Assessment

For the 2008-2009 fiscal year, the preliminary pension assessment for the entire pension sector is $13,718,787.87. This pension assessment is based on the following figures (A-B) = (C+D):

(1) Note: as per the Ontario Regulation 11/01 (Assessment of Expenses and Expenditure) section 11. (1), an adjustment of 10.5% is required to cover the pension sector costs.

The 2008-2009 Invoice

The total on your invoice is your portion of the preliminary pension assessment, less the credit (Prior Year Adjustment) described above.

Submission of payments & inquiries

Please ensure your assessment invoice is paid within 30 days of the date on the invoice. Payment details are included on the invoice.

The invoice is addressed to "Accounts Payable". If you would like a different contact to receive future invoices, please email FSCO at the email address provided below and include your pension plan registration number.

Contacting FSCO

For general inquiries about the pension assessment, contact FSCO:

Telephone (416) 250-7250 - menu options 1, then 5, then 3
Toll-free at 1-800-668-0128 - menu options 1, then 5, then 3
Email pensionassessment@fsco.gov.on.ca

Reminder:

• The Annual Information Return (AIR) and Pension Benefits Guarantee Fund (PBGF) certificate (if applicable) must still be filed in the normal fashion.
• Do not submit a fee with the AIR form.
• Do not combine the PBGF fee (if applicable) with the pension assessment.
• Do not mail the AIR form and/or PBGF certificate with the pension assessment.