In March of 2010, the Financial Services Commission of Ontario (FSCO) launched its Pension Services Portal (PSP), which enables plan administrators to file Annual Information Returns, Investment Information Summaries, Pension Benefits Guarantee Fund Assessment Certificates, Pension Plan/Fund Financial Statements, Actuarial Information Summaries, and Actuarial Valuation Reports electronically.
Last week, FSCO announced that effective January 1, 2013 all of these filings must be filed electronically, as plan administrators will no longer have the option of submitting these filings in paper format.
To file electronically, plan administrators and/or their agents must first activate their unique PSP accounts. FSCO has posted instructions on how to activate a PSP account, as well as a series of FAQs providing more information.
As a member of Osler's Knowledge Management team, Lesha Van Der Bij facilitates Osler's efficient, effective and timely delivery of cutting-edge legal advice to clients by ensuring that the Pensions & Benefits and Labour & Employment Departments' legal, intellectual and practical expertise is captured and readily accessible by all legal professionals.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
