Public comment closed
Comment Due Date

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Note: FSRA would like to clarify that this guidance was not issued as final and therefore not in effect. FSRA has removed the proposed guidance and will review in the future the need, if any, for guidance related to PBGF assessment rules.

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Ontario's Pension Benefits Guarantee Fund protects members and beneficiaries of certain single employer defined benefit pension plans. In the event of an employer's bankruptcy, and where the pension plan they sponsor is in a deficit position, the Pension Benefits Guarantee Fund guarantees benefits payable from these plans, subject to specific maximums and specific inclusions. The Pension Benefits Guarantee Fund is governed by the Pension Benefits Act and is administered by FSRA.

The proposed Guidance clarifies:

  • the deadline for paying the assessment is nine months after the fiscal year end, whether the pension plan is ongoing or is being wound up
  • for ongoing plans, the PBGF assessment for fiscal years that end on or after December 31, 2021, must be based on the most current valuation report filed with FSRA that has a valuation date on or before the fiscal year end in question

FSRA invites stakeholders and the public to submit feedback on the proposed Guidance until March 14, 2022.


Before we begin, please make sure you do not include any personal or private financial information. If your inquiry does require this information be shared with us, please call us at 1-800-668-0128 or email us at [email protected] for instructions.

By submitting your content, you agree to have your materials posted on our engagement portal, used in reports and other materials prepared by Financial Services Regulatory Authority of Ontario (FSRA) that may be shared with the public. Content is moderated so that all posts are respectful and professional. The Freedom of Information and Protection of Privacy Act, R.S.O. 1990, c.F.31, applies to all online content.


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Sector Comment Date posted Sort ascending
[2022-003] Laurie Harrison - The Hospital for Sick Children

[2022-003] Lise Houle - Mercer

[2022-003] Paul Winnett - LifeWorks, Ltd.

[2022-003] Yen Chung - Segal
Please find attached our submission to the Consultation on Proposed Guidance: Pension Benefits Guarantee Fund Assessment Calculations and Deadlines.

[2022-003] Simon Laxon - WTW
Please find enclosed our submission on the Proposed Guidance on Pension Benefits Guarantee Fund Assessment Calculations and Deadlines (No. PE0299INT)
[2022-003] Jason Vary - Actuarial Solutions Inc.
My personal comments can be found at the following link:
Feel free to contact me if you have any questions.
[2022-003] Simon Nelson - Eckler Ltd
Please see attached for our comments on this consultation
[2022-003] Louis Duranleau - Normandin Beaudry

Please find enclosed Normandin Beaudry's comments on the recent interpretation published on February 14, 2022 on the PBGF Assessment Calculations and Deadlines on which FSRA sougnt public feedback.

For any additional information or should you want to discuss, don't hesitate to contact us.

Best regards,

Louis Duranleau, FSA, FCIA
Principal, Pension and Savings
Normandin Beaudry
P. 514 285 1122, ext. 230
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