FSRA Requesting Stakeholder Feedback on Proposed Guidance Concerning Actions to Avoid Deregistration of a Pension Plan, and Pension Plan Amendments
August 31, 2022
The Financial Services Regulatory Authority of Ontario (FSRA) is requesting stakeholder feedback on proposed guidance concerning Actions to Avoid Deregistration of a Pension Plan Under the Federal Income Tax Act (ITA) and Pension Plan Amendments.
The guidance for avoiding deregistration of a plan identifies the documents, timeframes and information required under exemptions from the Pension Benefits Act to avoid a plan’s deregistration under the ITA, including:
• providing written notice to FSRA
• pension plan member communication
• other considerations, such as certification, exemptions and requests for more information.
https://www.fsrao.ca/engagement-and-consultations/consultation-proposed-guidance-actions-avoid-deregistration-pension-plan-under-federal-income-tax-act
The guidance for plan amendments includes information related to the effective date of amendments, restrictions on replacing a variable indexation formula with a fixed indexation rate for benefits already earned as well as notice requirements and notice waivers for adverse amendments.
https://www.fsrao.ca/engagement-and-consultations/consultation-proposed-guidance-pension-plan-amendments
The FSRA invites input on both proposals until September 15, 2022.
