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Tuesday, August 22, 2017
Financial and Consumer Affairs Authority

An administrator must file a certified copy of a plan amendment with the Superintendent of Pensions within 60 days after the amendment is made. The Pensions Division will issue a letter advising of the status of the registration of the amendment.

Within 90 days of the amendment being registered, the plan administrator must provide each plan member with an explanation or summary of any amendment to a plan that relates to the member's entitlements and obligations.

If an amendment affects the cost of benefits provided by the plan, creates an unfunded liability or otherwise affects the solvency or funding of the plan, revisions must be made to the most recent actuarial valuation and cost certificate, or a new actuarial valuation and cost certificate must be prepared and filed. The new or revised actuarial valuation and cost certificate must be filed within 120 days after the amendment is made.



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