FCAA is Saskatchewan’s financial and consumer marketplace regulator.
Deputy Superintendent releases written decision regarding cancellation of the Plan’s registration
On March 11, 2015, the Deputy Superintendent announced that she will not cancel the registration of the pension plan. On April 8, 2015, she advised stakeholders of the decision in writing.
FCAA issues statement: Implementation of joint submission would require changes to pension legislation
The City of Regina and the Regina Civic Pension and Benefits Committee are expected to file a joint submission regarding changes to the pension plan on December 5, 2014. FCAA understands that changes to pension legislation would be required to implement the submission. Therefore, the Government of Saskatchewan will need time to consider the submission.
The Deputy Superintendent has indicated that she will allow time for the submission to be considered and reviewed by the Government before reaching a decision as to whether to cancel the registration of the plan, and that she continues to prefer a negotiated solution.
Deputy Superintendent Extends Submission Period
In response to a request from the City of Regina and the Regina Civic Pension and Benefits Committee, the deadline for filing submissions has been extended from Nov. 30, 2014 to December 5, 2014.
Deputy Superintendent considers Cancellation of the Plan's Registration
Stakeholders of The Regina Civic Employees’ Superannuation and Benefit Plan were notified on July 17, 2014 that the Deputy Superintendent of Pensions is considering cancelling the pension plan’s registration as the plan is not in compliance with the legislation.
Clarification of FCAA's concerns with Letter of Intent
On May 22, 2013, The Sponsors' Plan Review Committee signed a Letter of Intent respecting changes to the plan. On April 22, 2013 FCAA sent a letter to the Committee outlining its concerns with a draft Letter of Intent which was submitted to FCAA on March 8, 2013.