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FSRA releases defined benefit pension plan funding information

FSRA has released its Q2 2021 Estimated Solvency Report for Ontario's Defined Benefit Pension Plans. The funded positions of pension plans have improved steadily for five consecutive quarters and are at their highest levels since monitoring began. Almost 70% of plans have a solvency funded ratio exceeding 100%.

  • The median projected solvency ratio is 106% as at June 30, 2021.
  • 3% of pension plans are projected to have a solvency ratio lower than 85%.

In addition, FSRA has also released its 2020 Report on the Funding of Defined Benefit Pension Plans in Ontario (Report). This annual Report provides pension stakeholders with funding, investment and actuarial information on the registered defined benefit (DB) pension plans we regulate based on the latest filed information with FSRA. This Report provides a comprehensive picture of the state of DB pension plans in Ontario and insights into existing practices and emerging trends. 

Learn more:

  • Effective July 29, 2021, Regulation 909 was amended to require pension plan administrators with PBGF liabilities of $10MM or greater to calculate and report their plan’s PBGF claim exposure and information regarding the distribution of its pension benefits. The new data is to be submitted through the Pension Services Portal (PSP) as part of the existing valuation report that a plan administrator is required to file routinely with FSRA. This new requirement applies to valuations filed on or after September 1, 2021.
  • FSRA continues to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at fsrao.ca.
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