Guidance consultation – Pension plan administrator roles and responsibilities
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.
To ensure that plan administrators take the required standard of care, we are proposing the following updates and changes to the current Pension Plan Administrator Roles and Responsibilities Guidance:
- New sections that include content on:
- managing and retaining records
- responding to complaints and inquiries
- communicating information to plan members accurately and timely
- Other updates that address:
- observed supervisory issues
- the overall clarity of the guidance
We are releasing the updated guidance as Interpretation Guidance, which reflects the intent of the guidance and FSRA’s guidance framework.
The request for public feedback on the new sections is now open. The consultation closes on September 28, 2023.
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.
For media inquiries:
Senior Media Relations and Digital Officer
Financial Services Regulatory Authority (FSRA)
Email: [email protected]