June 2013

June 2013

Pensions – Filing Fees Have Been Increased Effective January 1, 2013

June 27, 2013 –  The Pension Benefits Regulations, 1993 have been amended such that the fee for filing an application for the registration of a pension plan or filing an annual information return is now $7 per member and $3.50 per former member (i.e. deferred person or pensioner), subject to a minimum of $150 and a maximum of $15,000.  This fee schedule is retroactive to January 1, 2013.

For more information, please contact:

Leah Fichter, Director 
Pensions Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
Phone:  (306) 787-7660
Fax:  (306) 798-4425
Email:  leah.fichter@gov.sk.ca         

    
Pensions – Amendments made to The Pension Benefits Regulations, 1993

June 27, 2013 – The Pension Benefits Regulations, 1993 have been amended to: (1) change the funding rules for most public sector defined benefit pension plans; (2) change the way in which expenses are accounted for in the solvency assets and liabilities in a solvency valuation; and (3) remove the requirement to apply the transfer deficiency rules in the event of member or former member death.

For more information, please contact:

Leah Fichter, Director 
Pensions Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
Phone:  (306) 787-7660
Fax:  (306) 798-4425
Email:  leah.fichter@gov.sk.ca