FSRA Issues Guidance on Bank of Canada Revisions to Real Return Bond Data

TORONTO, June 23, 2021 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) is committed to promoting the good administration of pension plans and protecting the rights and benefits of all plan beneficiaries. 

The Bank of Canada recently published revisions to the real return bond data from June 1, 2020. FSRA is now issuing Information Guidance on how these revisions affect commuted value calculations and reports filed with FSRSA prior to that date:

• FSRA will not require recalculations of commuted values calculated from July 1, 2020 to April 30, 2021 that have already been communicated to or paid to members.
• FSRA will not require revisions to actuarial reports or other information filed on or before May 10, 2021.
• Wind up reports that have not been approved by FSRA as of May 10, 2021, must be updated to reflect the revised rates and refiled with FSRA.

Read Guidance No. PE0226INF: Bank of Canada Revisions: Effect on Commuted Value Calculations and Filings.

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The Financial Services Regulatory Authority of Ontario (FSRA) is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.

SOURCE Financial Services Regulatory Authority of Ontario