FSRA Releases Pension Sector Emergency Management Response

TORONTO, April 24, 2020 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) is continuing to work together with the sectors that we regulate to ensure that the sectors and members of the public receive the support they need during this time of rapid change and disruption.

We have heard from plan sponsors and administrators, as well as their agents and advisors and from plan members about the challenges they are facing in the current economic environment and period of disruption.

We are issuing new guidance to provide clear information to pension plan sponsors, administrators and their agents on how they can meet regulatory requirements during this disruption, and to plan members who may have questions during these challenging times.

Guidance: FSRA Pension Sector Emergency Management Response 

It is our expectation that pension plan sponsors and administrators will focus on managing risks while making all efforts to meet their administrative and other pension-related obligations.

Plan administrators, sponsors, and advisors and plan members can email their FSRA Pension Officer as the first point of contact. Contact information for Pension Plan Officers can be found at: FSRA Pension Plan Information Access.

For more information about how FSRA is supporting the sectors that it regulates during COVID-19, please visit: FSRA Announces Changes to Regulatory Requirements due to COVID-19.

SOURCE Financial Services Regulatory Authority of Ontario