The financial health of Ontario's Defined Benefit pension plans continues to improve in first quarter of 2022

TORONTO, April 28, 2022 /CNW/ - FSRA's latest quarterly solvency report finds that the majority of Ontario pensions plans (85 per cent) were more than 100 per cent fully funded for the fifth consecutive quarter and are at the highest level since December 2009.

While this is an encouraging sign, plan sponsors and administrators are expected to have an effective governance framework in place and a good understanding of the risks facing the plan. This will enhance a pension plan's ability to withstand periodic stresses.

Solvency monitoring is one supervisory tool FSRA uses to improve outcomes for pension plan beneficiaries and to proactively engage in a dialogue with plan sponsors.

FSRA has released its Q1 2022 update on the estimated solvency ratios of Ontario's Defined Benefit pension plans.

Learn More:

Q1 2022 Estimated Solvency Funded Status of Defined Benefit Pension Plans in Ontario

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

For media inquiries: Russ Courtney, Senior Media Relations and Digital Officer, Financial Services Regulatory Authority, C: 437-225-8551, Email: [email protected]