News & Updates
FSRA seeks feedback on proposed guidance regarding its supervision of the target benefit MEPP framework
August 27, 2025
The Financial Services Regulatory Authority of Ontario (“FSRA”) is seeking feedback on its proposed guidance regarding its supervisory approach to the implementation of the new target benefit framework for multi-employer pension plans, which came into effect on January 1, 2025.
The proposed guidance outlines FSRA’s approach to processes and practices for certain assessments, engagements and approvals under the framework, including:
- Reviewing and approving applications to convert defined benefits to target benefits.
- Assessing whether a plan’s Provision for Adverse Deviation (PfAD) aligns with its funding and benefits policy.
- Supervising plans that provide target benefits through regular reviews, risk assessments and ongoing engagement with plan administrators.
The consultation period is now open and the deadline for submissions is October 14, 2025.
Click ‘More Information’ below to review the submission request and proposed guidance:
