News & Updates
FSRA shares Q2 solvency gains, defined benefit funding trends and consultation deadlines in latest quarterly update
September 22, 2025
The Financial Services Regulatory Authority of Ontario (“FSRA”) recently released its 2025 Q2 Pension Update, highlighting a number of reports, updates, and reminders.
The key points are as follows:
- FSRA’s Q2 2025 Solvency Report showed Ontario registered defined benefit plans had a median solvency ratio of 122%, up three percentage points on the previous quarter.
- FSRA’s 2024 Report on the Funding of Defined Benefit Pension Plans in Ontario showed an improvement over the 2023 results on both a going-concern and solvency basis, despite ongoing global economic volatility. The report also includes investment and actuarial information and trend analysis.
- Stakeholders are invited to provide their input on FSRA’s proposed Target Benefit Supervisory Guidance. The consultation period will close on October 14th, 2025.
- There is a reminder of the implications for Specified Ontario Multi-Employer Pension Plans of filing section 3 or section 14 valuation reports with a valuation date after January 1, 2025.
- Six new members were appointed to FSRA’s Pensions Stakeholder Advisory Committees.
- FSRA warned about the consequences of late payments for Pension Benefits Guarantee Fund (“PBGF”) assessments, including a note that extensions granted on PBGF Assessment Certificate filings do not apply to PBGF payments.
Click ‘More Information’ below to review the update:
