Thank you for providing your feedback on FSRA’s Proposed Supervisory Approach for Actively Monitored Single-Employer Defined Benefit plans.
We appreciate the comments and questions received to date. Your feedback helped to inform our final approach, which we have now posted.
- FSRA Response to Comments Received for Consultation on Proposed Supervisory Approach for Actively Monitored Single-Employer DB Plans
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Question: Why have my annual fees gone up 251% in 1 year.
FSRA’s Proposed Supervisory Approach for Single Employer Defined Benefit Pension Plans that are Actively Monitored only applies to single employer defined benefit plans where there where there may be a concern with respect to the security of the pension benefits promised.
This Approach will not apply to Individual Pension Plans and Designated Pension Plans. However, FSRA appreciates the input on the impact of our fees. FSRA will take this input into consideration when we review the fee and assessment structure.
We would also like to note the Ontario Government initiated a consultation on a proposal to exempt certain individual pension plans and designated plans from the Pension Benefits Act. While the consultation is now closed, you can read more about this consultation on the government’s consultation page: https://www.ontario.ca/page/consultation-individual-pension-plans-and-designated-plans.