Financial and Consumer Affairs Authority of Saskatchewan

FCAA is Saskatchewan’s financial and consumer marketplace regulator.

Pensions

  • Pensions

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    Pensions – The Pension Benefits Amendment Regulations, 2018

    July 16, 2018 – On July 12, 2018 the government amended The Pension Benefits Regulations, 1993 (the Regulations) to:

    • increase the filing fees on the filing of new plan registrations;
    • implement filing fees for the filing of amendments and actuarial valuation reports;
    • increase the filing fees on annual information returns; and
    • amend Form 1.

    Effective July 12, 2018

    The Regulations have amended Form 1, which is the form used by a spouse to consent to the transfer to a Registered Retirement Income Fund Contract, to add references to a contract owner of a Pooled Registered Pension Plan.

    Effective January 1, 2019 – Annual Information Returns, New Plan Registrations and Filing of Amendments and Actuarial Valuation Reports

    The Regulations have been amended, such that the fee for filing an annual information return will be $10 per member and $5 per former member, subject to a minimum of $300 and a maximum of $30,000.  

    The Regulations have been amended, such that the fee for filing an application for the registration of a pension plan will be $10 per member and $5 per former member, subject to a minimum of $300 and a maximum of $30,000.   

    The Regulations have been amended to introduce a new flat filing fee for amendments and Actuarial Valuation Reports at the rate of $300 per filing.

    The fee amendments are intended to ensure fees paid pursuant to the Regulations are sufficient to cover the costs incurred by the Financial and Consumer Affairs Authority to administer The Pension Benefits Act, 1992 (the Act). Historically, the fees have not been sufficient to fully offset the costs of administration of the Act and a portion of the costs were subsidized by other revenue sources. 

    The "Filing Fee" webpage can be found by clicking here.

    For more information, please contact:

    Pensions Division
    Financial and Consumer Affairs Authority of Saskatchewan
    Suite 601, 1919 Saskatchewan Drive
    Regina, Saskatchewan S4P 4H2
    Phone: (306) 787-7650
    Fax: (306) 798-4425
    Email: pensions@gov.sk.ca

     


    Pensions - PRPP Member Guide for Saskatchewan Members now Published

    June 29, 2018 - The Office of the Superintendent of Financial Institutions (OSFI) has issued five Pooled Registered Pension Plan (PRPP) Member Guides for federally registered PRPPs. Under the Multilateral Agreement for PRPPs, OSFI is responsible for supervising all federally registered PRPPs that include members of jurisdictions that are subject to that agreement. The federal PRPP Act applies to such PRPPs instead of a provincial PRPP Act, subject to certain exceptions impacting individual benefits, such as locking-in requirements and the types of savings vehicles into which PRPP funds may be transferred. The new guides describe the general requirements for PRPPs as well the various requirements impacting individual benefits for federal, British Colombia, Saskatchewan, Ontario and Nova Scotia PRPP members. A guide for Manitoba members will follow.

    More information, including the guides, can be found on this webpage:  http://www.osfi-bsif.gc.ca/Eng/pp-rr/ppa-rra/prpp-rpac/Pages/default.aspx.

    For more information, please contact:

    Pensions Division
    Financial and Consumer Affairs Authority
    Suite 601, 1919 Saskatchewan Drive
    Regina, Saskatchewan S4P 4H2
    Phone:  (306) 787-7650
    Fax:  (306) 798-4425

     


     

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    Pensions Division

    Suite 601, 1919 Saskatchewan Drive

    Regina, Saskatchewan S4P 4H2

    Tel: (306)787-7650

    Fax: (306)798-4425

    Email: pensions@gov.sk.ca

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