2021 FSRA Pensions team accomplishments
During the 2021 calendar year, FSRA’s Pensions team continued to streamline processes and better leverage the use of technology to ensure timely and effective engagement with the sector. Last year, we reviewed and answered 7,797 inquiries and received ~38,000 submissions, including annual prescribed filings. Learn more about our accomplishments in 2021 below.
During the 2021 calendar year, FSRA's Pensions team received:
The TOP 5 submissions were:
- Plan Specific Industry Inquiries
- General Inquiries (Non Plan Specific)
- Individual Pension Plans / Designated Plans Elections to opt out of the Ontario pensions legislative framework
- Variance and Non Remittance Reporting
- Plan Amendment Applications
- 234 wind up applications were reviewed (all wind up types, including surplus). Of this, 203 wind up applications were approved.
- 104 asset transfers were approved. Defined Contribution transfers made up ~75%.
- 111 applications to register pension plans were approved.
- ~1,450 amendment applications were received.
- ~1,500 amendments were approved, including those filed prior to 2021.
- 1,986 elections from Individual Pension Plans / Designated Plans opting out of the Ontario pensions regulatory framework. Of these, 1,974 have been reviewed.
Total inquiries were broken down as follows: