Jordan Fremont comments in Benefits Canada on the Financial Services Regulatory Authority (FSRA) of Ontario seeking feedback on its approach to monitoring single-employer defined benefit pension plans with benefits that could be at risk. He says while the approach may not be significantly different from the FSRA's previous work, the level of transparency is new.

“I think it is helpful to understand what it is they’re looking at and their own internal road map, which hasn’t been, to my knowledge, documented publicly. Plan sponsors and plan administrators will have a clear view on what they can expect.”

In October, the FSRA listed strengthening the “prudential supervision” of Ontario’s pension sector as one of its 2020-21 priorities.

“I would say this is the implementation of a process that was commenced a while back . . . and their move towards being a transparent, accountable regulator — not to say they weren’t before, but it’s an evolving process," says Fremont.