FSRA is seeking input on new Guidance that sets out how we will exercise our discretion and may provide consent for the purposes of an asset transfer transaction under the Pension Benefits Act (PBA).
This Guidance is intended to protect plan member and beneficiary entitlements. It is also intended to provide a more expeditious review process that will ensure that original and successor plans continue to be able to deliver on pension promises over the long-term; members are well informed and understand the impact of the asset transfer on their past and future benefits; and the management of plans is more efficient for plan sponsors and administrators.
The consultation period is open from September 11 until November 30, 2020.
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