Overview and Selected Findings 2004-2008
In July 2000, FSCO implemented a risk-based approach to monitor the funding of defined benefit pension plans. A required filing called the Actuarial Information Summary (AIS) and a computerized database were developed to support this initiative. The AIS enables FSCO to efficiently collect key actuarial and financial information contained in the filed funding valuation reports. FSCO uses this data, for example, to analyze the funded status of defined benefit pension plans and determine trends.
As an extension of its existing monitoring of DB pension plan funding, FSCO implemented a risk-based approach to monitoring DB pension fund investments in 2006. All DB pension plans registered with FSCO, except designated plans, are required to file a standard form called the Investment Information Summary (IIS). This form captures the key data contained in the financial statements related to DB pension funds and the information about plan investment management, which enable FSCO to identify plans with potential investment concerns for further review.
This is FSCO’s fifth report on DB pension plan funding, and the first to include information on pension fund investments. The report is based on filed funding valuation reports with valuation dates between July 1, 2004 and June 30, 2008 and the latest IIS for plan years ending in the same period.
For further information about this report, please contact:
Mr. George Ma
Chief Actuary, Pension Division
Financial Services Commission of Ontario
5160 Yonge Street, Box 85
Toronto ON M2N 6L9
Phone: 416-226-7785
e-mail: gma@fsco.gov.on.ca
Financial Services Commission of Ontario