Human Resources Legislative Update
FSCO Consultation on Proposed Investment Guidance Notes (Buy-In Annuities)
Date: October 9, 2014
On October 7, 2014, the Financial Services Commission of Ontario (“FSCO”) announced that it will be publishing Investment Guidance Notes (“Guidance Notes”) with respect to various investment activities of Ontario registered pension plans. The Guidance Notes will set out FSCO’s expectations and identify issues that plan administrators should consider and address in respect of the particular investments.
The first Guidance Note relates to buy-in annuities for defined benefit pension plans and was released as a consultation draft. The Guidance Note on buy-in annuities outlines FSCO’s expectations of plan administrators with respect to the investment of pension plan assets in buy-in annuities for defined benefit plans.
Interested stakeholders may submit comments to FSCO on or before November 7, 2014.