FSRA updates guidance on roles and responsibilities of pension plan administrators
June 19, 2024
The Financial Services Regulatory Authority of Ontario (FSRA) has provided updated guidance on the roles and responsibilities of pension plan administrators effective June 5, 2024.
The guidance states that plan administrators are responsible for providing beneficiaries with information, maintaining accurate and complete plan records, complying with applicable laws, making benefit payments to plan beneficiaries, and more.
The guidance also states that he responsibilities of administrators are set out in the pension plan documents, the PBA and other applicable law, including under the common law. To assist administrators in carrying out their responsibilities, FSRA has published regulatory guidance. The guidance states that administrators should be able to demonstrate that they have considered these practices in their administration and investment activities.
Click on more information below to read FSRA’s full guidance:
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