FSRA has selected IMCO to manage the Pension Benefits Guarantee Fund (PBGF)
The Financial Services Regulatory Authority of Ontario (FSRA) is committed to promoting the good administration of Ontario pension plans and protecting and safeguarding pension benefits and the rights of pension plan beneficiaries.
FSRA has selected the Investment Management Corporation of Ontario (IMCO) to manage $1.2 billion in portfolio assets for the Pension Benefits Guarantee Fund (PBGF).
“FSRA is committed to promoting the good administration of Ontario pension plans and to protecting the rights and benefits of their beneficiaries,” said Mark White, FSRA CEO. “The Ontario Pension Benefits Guarantee Fund is unique in Canada and protects the beneficiaries of single employer defined benefit pension plans in Ontario that contribute to the PBGF. Increased returns on PBGF assets will provide greater protection to these beneficiaries, and we are confident in IMCO’s ability to improve these returns.”
IMCO is one of the largest asset managers in Canada. Managing over $73 billion in assets (as of December 31, 2022), the company provides end-to-end investment solutions and fiduciary oversight to a range of public sector clients across Ontario.
The PBGF is a fund administered by the CEO of FSRA that employers must contribute to if they provide a defined benefit pension plan that is covered by the PBGF for Ontario employees. The purpose is to provide a guaranteed payment of certain benefits if the pension plan terminates due to the employer’s bankruptcy.
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FSRA continues to work on behalf of all stakeholders, including consumers and pension plan beneficiaries, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.