TORONTO, Aug. 16, 2022 /CNW/ - FSRA has released its annual report on the funding of defined benefit pension plans in Ontario. FSRA estimated the projected funded ratio of the plans has improved slightly. In general, this means during the report period, plans remained well funded.
FSRA has also released its latest quarterly solvency report as at June 30, 2022. The report finds the funded positions of pension plans continue to perform at healthy levels despite a small decrease for the first time in about 2 years.
Given the rapidly changing economic environment, we encourage plan sponsors and administrators to consider various stress tests and to continuously monitor plan risks. We believe that good risk management is a key characteristic of a well-run plan and an important part of the plan administrator's role in protecting members' benefits. An effective framework for managing risk will assist plan administrators in keeping plan assets safe, protects the plan from adverse risks and supports the plan in meeting its objectives.
FSRA continues to work on behalf of all stakeholders, including consumers and pension plan members, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca
SOURCE Financial Services Regulatory Authority of Ontario
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