Tag: Reg. 16
Saskatchewan has filed Regulation 100/2017, amending its Pension Benefits Regulation to establish a new funding and regulatory regime for "limited liability plans" (a form of target benefit plan).
Sections 40(5) and 40(6) of the Saskatchewan Pension Benefits Act provide for defined benefit plans where the funding obligations are limited by collective agreement or contract, and benefits can be reduced if there is a funding deficit. These amendments appear to be intended to clarify the funding and regulatory requirements governing such plans.
FSCO has posted an updated Guidance Note AGN-005: Determination of the Solvency Liability Adjustment, which replaces Guidance Note AGN-002.
The Note explains how to determine the average interest rates (for purposes of a solvency valuation) in situations where there are changes in the Canadian Institute of Actuaries’ Standards . . .