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FCAA is Saskatchewan’s financial and consumer marketplace regulator.
Multi-jurisdictional pension plans are registered in only one jurisdiction, but have members in more than one jurisdiction (i.e. province, territory, or federal jurisdiction).
Representatives of the governments of Saskatchewan, British Columbia, Nova Scotia, Ontario, and Quebec signed the 2016 Agreement Respecting Multi-Jurisdictional Pension Plans (2016 Agreement) effective July 1, 2016. The Canadian Association of Pension Supervisory Authorities (CAPSA) developed the agreement to provide a clear legal framework for the administration and regulation of multi-jurisdictional pension plans.
The 2016 Agreement replaces a 1968 Memorandum of Reciprocal Agreement (1968 Agreement), for those jurisdictions that signed the new 2016 Agreement. The 1968 Agreement continues to apply between Saskatchewan and the jurisdictions that did not sign the newest agreement. There is also a 1969 Memorandum of Reciprocal Agreement between Saskatchewan and the Government of Canada (1969 Agreement).
Plan administrators should review their plan documents, administrative practices, and member disclosure items to ensure compliance with The Pension Benefits Act ,1992, the requirements of the 2016 Agreement and, to the extent that either applies, the 1968 Agreement and 1969 Agreement.
For more information about the 2016 Agreement, visit the CAPSA website.