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FSRAO releases final revised Pension Plan Amendments Guidance


July 10, 2024

Ontario’s financial services regulator — the Financial Services Regulatory Authority of Ontario (FSRA) — released its final Pension Plan Amendments Guidance (Guidance) at the start of June, following public consultations with stakeholders. The Guidance informs stakeholders how FSRA interprets certain provisions of the Ontario Pension Benefits Act relating to certain plan amendments.

The Guidance touches upon three main points: (i) amendments with retroactive adverse effects, (ii) amendments that purport to replace a variable indexation formula with a fixed indexation rate for benefits already accrued, and (iii) notice requirements for certain adverse amendments.

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