Regulatory Alerts2003-10-20
Added
Circular-PI-MA-6-2003 – Approval of Benefit and Contribution Changes
Funds must submit proposed benefit and contribution changes for 2004 by October 31, 2003, to ensure implementation effective January 1, 2004. Each benefit option must include prescribed minimum benefits, be self-supporting regarding membership and financial soundness, and not jeopardize other options within the fund. Continuation of existing benefits for 2005 requires submission by October 31, 2004, accompanied by 2004 management accounts, enrollment numbers, and motivation for retention if performance was poor. Implementing changes before Registrar approval constitutes a direct contravention of the Act.
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