News & Updates
BCFSA publishes advisory regarding updates to Information Bulletin and Regulatory Statement on valuation report filing for DB plans
May 24, 2023
The BC Financial Services Authority (BCFSA) published an advisory regarding the update and renaming of the following documents:
- Information Bulletin PENS 20-001: Frequently Asked Questions pertaining to new defined benefit funding requirements effective December 31, 2019
- Regulatory Statement 21-013: Valuation Filing Requirements
These changes were prompted by Order in Council No. 505 which clarified the funding requirements of the provision for adverse deviation (“PfAD”) on normal actuarial cost when a plan with a defined benefit provision has accessible going concern excess.
Read the full advisory by clicking on more information:
