Promoting Greater Fairness and Flexibility for Pension Plan Members Upon Marriage Breakdown

FSRA seeks feedback on a consultation paper discussing the potential benefits of developing a family law rule.

TORONTO, Nov. 14, 2023 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) is committed to promoting good administration of pension plans in Ontario, this includes ensuring clear and fair processes for plan members, spouses, and administrators upon marriage breakdown.

In support of this commitment, FSRA is seeking public feedback on changes being considered relating to areas of family law and the potential benefits of developing a rule.

The consultation paper outlines the desired outcomes of a potential rule, which include:

• Reducing uncertainty concerning certain administrative and technical matters.
• Improving efficiency in the valuation and division process.
• Providing appropriate flexibility to spouses and plan administrators.
• Ensuring fairness between different stakeholders.

The consultation is now open, and we invite stakeholders and the public to submit feedback by January 19, 2024.

Learn more:

• Consultation on Proposed Family Law Rule
• Family Law Rule Consultation Paper

FSRA continues to work on behalf of all stakeholders, including pension beneficiaries, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca.

For media inquiries:
Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]

SOURCE Financial Services Regulatory Authority of Ontario