FSRA – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 22 Nov 2024 22:16:07 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 2024 Risk Management Conference: A look at the first days of the WISE Trust: it ‘felt like a startup’ https://www.benefitscanada.com/canadian-investment-review/post-event-coverage/2024-risk-management-conference-a-look-at-the-first-days-of-the-wise-trust-it-felt-like-a-startup/ Mon, 21 Oct 2024 11:51:44 +0000 https://www.benefitscanada.com/?p=160630 Overseeing the transition of a single-employer pension plan to a jointly sponsored one felt at times like launching a startup firm, according to Theo Heldman, chief financial officer and vice-president of risk at the Workplace Insurance and Safety Employee Trust, speaking during a session at the Canadian Investment Review’s 2024 Risk Management Conference. “There was […]

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]]> Ontario DB pension plans’ average solvency ratio increases to 123% in Q2 2024: FSRA https://www.benefitscanada.com/pensions/defined-benefit-pensions/ontario-db-pension-plans-average-solvency-ratio-increases-to-123-in-q2-2024-fsra/ Tue, 17 Sep 2024 13:00:10 +0000 https://www.benefitscanada.com/?p=160174 The median projected solvency ratio for Ontario defined benefit pension plans was 123 per cent as at June 30, 2024, up slightly from 122 per cent as at March 31, according to a new report by the Financial Services Regulatory Authority of Ontario. It found this increase was attributable to a rise in solvency discount […]

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]]> Ontario’s target-benefit framework too prescriptive, could lead to increased plan costs: ACPM https://www.benefitscanada.com/pensions/governance-law/ontarios-target-benefit-framework-too-prescriptive-could-lead-to-increased-plan-costs-acpm/ Wed, 28 Aug 2024 19:00:38 +0000 https://www.benefitscanada.com/?p=159557 Ontario’s proposed regulatory framework for target-benefit pension plans includes requirements that are more prescriptive than other jurisdictions and could result in additional costs and reduced benefits for plan members, said the Association of Canadian Pension Management. In an open letter, the ACPM noted the inclusion of policies — such as those determining funding and benefits, […]

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]]> FSRA CEO Mark White stepping down https://www.benefitscanada.com/notice/appointment-notice/fsra-ceo-mark-white-stepping-down/ Tue, 09 Jul 2024 19:00:10 +0000 https://www.benefitscanada.com/?p=157942 Mark White, the chief executive officer of the Financial Services Regulator of Ontario, has been confirmed as chair of the Ontario Energy Board and will be stepping down from his current role effective July 16, 2024. Stephen Power, executive vice-president of corporate services at the FSRA, will serve as interim CEO while the organization undertakes an […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-88/ Fri, 28 Jun 2024 13:00:38 +0000 https://www.benefitscanada.com/?p=157562 An article on the benefits of tailoring an individual’s work schedule around their circadian rhythm and optimum times of productivity was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. How ‘Chronoworking’ is helping boost employee productivity, recruitment 2. FSRA releases final […]

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]]> FSRA releases final guidance on roles, responsibilities of pension plan administrators https://www.benefitscanada.com/pensions/governance-law/fsra-releases-final-guidance-on-roles-responsibilities-of-pension-plan-administrators/ Mon, 24 Jun 2024 19:00:46 +0000 https://www.benefitscanada.com/?p=157340 The Financial Services Regulatory Authority of Ontario has updated its guidance on the roles and responsibilities of pension plan administrators, adding three additional areas for administrators to enhance protection and stability for pension plan beneficiaries. The guidance, which took effect earlier this month, stated an administrator is responsible for all aspects of the administration of the […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-87/ Fri, 21 Jun 2024 13:00:45 +0000 https://www.benefitscanada.com/?p=157294 A story discussing the factors leading employees to delay taking time off and instead engage in ‘quiet vacationing’ was the most-read story this week on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Employees hesitant to take time off turning to ‘quiet vacationing’: expert 2. 42% of […]

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]]> Ontario DB pension plans’ average solvency ratio increases to 122% in Q1 2024: FSRA https://www.benefitscanada.com/pensions/defined-benefit-pensions/ontario-db-pension-plans-average-solvency-ratio-increases-to-122-in-q1-2024-fsra/ Mon, 17 Jun 2024 19:00:22 +0000 https://www.benefitscanada.com/?p=156991 The average projected solvency ratio for Ontario defined benefit pension plans was 122 per cent as of March 31, 2024, up three per cent from Dec. 31, 2023, according to a new report by the Financial Services Regulatory Authority of Ontario. It found 90 per cent of DB plans were projected to be fully funded […]

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]]> FSRA outlines final guidance on retroactive adverse amendments https://www.benefitscanada.com/pensions/governance-law/fsra-outlines-final-guidance-on-retroactive-adverse-amendments/ Wed, 05 Jun 2024 13:00:28 +0000 https://www.benefitscanada.com/?p=156539 In its newest guidance, the Financial Services Regulatory Authority of Ontario is barring pension plan administrators from registering retroactive adverse amendments that could have a negative impact on plan members or beneficiaries, such as changes in contribution rates, subject to limited exceptions. “What we found coming out of the [coronavirus] pandemic, . . . there was […]

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]]> Ontario court sides with IBM in pension benefits rectification case https://www.benefitscanada.com/pensions/governance-law/ontario-court-sides-with-ibm-in-pension-benefits-rectification-case/ Wed, 24 Apr 2024 13:00:25 +0000 https://www.benefitscanada.com/?p=154599 An Ontario Superior Court ruling that allowed IBM Canada Ltd. to retrospectively rectify drafting errors that created unintended additional pension benefits for employees on disability leave augurs well for plan sponsors seeking similar relief going forward. “The case clarifies that there is a specific test for rectification of pension plans and other unilateral instruments, which […]

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