Have your say: FSRA’s proposed Target Benefit Supervisory Guidance
Ontario’s financial services regulator, FSRA, is supporting the government of Ontario in implementing its target benefit legislative and regulatory framework for multi-employer pension plans (MEPPs), which came into effect on January 1, 2025.
FSRA’s proposed Supervisory Approach Guidance to Implementation of the Target Benefit MEPP Framework explains how FSRA will oversee and apply Ontario’s framework. It outlines FSRA’s approach to:
- reviewing and approving applications to convert defined benefits to target benefits
- assessing whether a plan’s Provision for Adverse Deviation (PfAD is in alignment with its funding and benefits policy
- supervising plans that provide target benefits through regular reviews, risk assessments, and ongoing engagement with plan administrators.
FSRA is inviting stakeholders to provide their input on the proposed guidance. The consultation period is now open and will close on October 14, 2025.
Learn more:
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.