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ARTICLE · 19 APRIL 2018

FSCO Targeted Reviews

Miller Thomson
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In late 2017, the Ontario pension regulator, the Financial Services Commission of Ontario ("FSCO"), announced that it was undertaking a series of "targeted reviews" of selected pension plans.

CanadaEmployment and HR
Kim Ozubko
Kim Ozubko
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In late 2017, the Ontario pension regulator, the Financial Services Commission of Ontario ("FSCO"), announced that it was undertaking a series of "targeted reviews" of selected pension plans. There have now been two targeted reviews announced with more expected later this year. In this post, we discuss what a plan administrator can expect from a targeted review of its plan.

Purpose of Targeted Reviews

According to FSCO, the targeted reviews of selected pension plans will: (i) help ensure compliance with the Pension Benefits Act (Ontario) ("PBA") and FSCO policies; (ii) identify common issues and trends; and (iii) determine if and what further guidance or education the industry may need. Upon completion and analysis of a targeted review, FSCO intends to share its findings with stakeholders on an aggregate basis. Plan-specific data will not be shared.

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