Category: Plan Funding
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B.C. Qs & As re New DB Funding Requirements
The British Columbia Financial Services Authority has published Bulletin 20-001, which provides a series of frequently asked questions regarding the new defined benefit funding requirements, which came into force on as of December 31, 2019 . . .
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Ontario FSRA Follow Up on Amendments to Regulations re CIA Standards
Late last year, Ontario filed a series of regulations updating references to the current Canadian Institute of Actuaries’ (CIA) Standards of Practice. As part of these changes, new provisions were added to the General Regulation, Family Matters Regulation, Asset Transfer Regulation and Conversion and Asset Transfer Regulation to indicate that the new section of the CIA standard regarding "target pension arrangements" does not apply to multi-employer pension plans established by collective agreement or trust agreement when valuing the liabilities of Ontario members of those plans . . .
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ASB Considering Delay of New Commuted Value Standard
The Canadian Institute of Actuaries posted a notice indicating that the Actuarial Standards Board (ASB) is considering delaying the effective date of the new commuted value standard until later in 2020 . . .
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OSFI Updates Actuarial Summary Guide
OSFI has updated its Guide to Completing the Actuarial Information Summary (AIS) to reflect recent changes made to the AIS . . .
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Ontario Regulation re University Plan Exemptions
Ontario filed Regulation 32/20, adding an exemption for the listed university pension plans . . .
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Nova Scotia Proclaims PBA Amendments in Force
Effective April 1, 2020, Nova Scotia proclaimed in force amendments to the Nova Scotia Pension Benefits Act and the regulations. These amendments were included in Bill 109, Pension Benefits Act (amended), which received Royal Assent on April, 12, 2019 and Regulation 31/2020 . . .
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CRA Actuarial Bulletin re Apportioning Assets and Actuarial Liabilities
The Canada Revenue Agency has published a draft Actuarial Bulletin No. 4: Apportioning Assets and Actuarial Liabilities . . .
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OSFI Proposes Updates to Actuarial Reports Guide
OSFI published an updated Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans for consultation . . .
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B.C. Amends Regulation re DB Funding
British Columbia filed an Order in Council (B.C. Reg. 264/2019) amending the Pension Benefits Standards Regulation with respect to defined benefit plan funding and target benefit plans . . .
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Ontario Regulations re Actuarial Standards & Auditor Report Threshold
Ontario filed a series of regulations updating references to actuarial standards . . .
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