Building on work to-date and to respond to the systemic importance of large public sector plans and the International Monetary Fund’s Financial Sector Assessment Program, Ontario’s Finance Services Regulatory Authority (FSRA) will continue to engage with large public sector plans on risk management and investment risk governance practices.
Building on work to-date and to respond to the systemic importance of large public sector plans and the International Monetary Fund’s Financial Sector Assessment Program, Ontario’s Finance Services Regulatory Authority (FSRA) will continue to engage with large public sector plans on risk management and investment risk governance practices. An Aon ‘Radar’ says FSRA will identify leading practices on risk management processes that allow plans to evaluate risk management controls and better protect assets. Its ‘2023-2026 Annual Business Plan’ also says it will work with the Canadian Association of Pension Supervisory Authorities (CAPSA) to develop guidelines that highlight leading practices in risk management, giving due consideration to proportionality. To support the development of target benefit regulation, it will assist the government with its target benefit framework for multi-employer pension plans and initiate the implementation of a supervisory framework for target benefit multi-employer pension plans.
