When FSRA intends to make an Order, Consent or Declaration under the Pension Benefits Act, a notice of intended decision (NOID) is served on the persons named. These persons have the right to request a hearing before the Financial Services Tribunal (FST). If the FST holds a hearing, the FST’s decisions are published on the Canadian Legal Information Institute (CanLII)’s website.
Consents generally relate to FSRA’s authorization of payments out of a pension plan (e.g., refunds of contributions, overpayments, surplus, transfers of assets between pension plans, etc.).
Declarations are made by FSRA to declare that the Pension Benefits Guarantee Fund applies to a pension plan for the reasons set out in the NOID.
Note: Effective February 1, 2023, all enforcement NOIDs and Orders will be published on FSRA’s Enforcement and Monitoring page. Prior to February 1, 2023, the enforcement NOIDs and Orders were published on this Pension Decisions page. Enforcement NOIDs and Orders are issued in situations where there is alleged non-compliance with the PBA and FSRA is ordering the plan administrator or other appropriate person to take or refrain from taking specified action(s) and may also involve fines.