Annual Pensions Report E-Filing System User Guide
Contents
1. Financial Institutions Commission Page 31 of 33 The FICOM Annual Pension Reporting System gt Enter corrections or explanations and click Save to clear the errors You can click the Validate button to have the system verify your changes and return you to the Validation page summary to review remaining errors Repeat the process until all errors are cleared gt Once you have read and understood any warnings issued Click the Acknowledge Warnings button to proceed Note If you need to have your Report verified by others prior to submission please use the PDF button featured on the bottom right of most Report pages to generate a draft summary of all your entries the PDF will display a DRAFT watermark Your data will be saved if you log out allowing you to submit your Report at a later date Submitting the Report When all errors are cleared and warnings have been acknowledged you will be prompted to click Submit When the submission is complete a confirmation message will display on the screen along with a Download button to produce a final summary of your Report data in PDF format Please use the email link provided on the screen to send attachments or provide your feedback on use of this application Use the additional link to return to the home page to enter data for additional plans Attachments Please submit any additional documents such as signed audited financial statements as email attachments Ple2. The Annual Pension Report E Filing System User Guide Version 3 2 Last Updated January 15 2014 Note We accept your information as having been supplied in confidence however please note that the protection of confidentiality is subject to the law particularly the provision of the Freedom of Information and Protection of Privacy Act Financial R Institutions BRITISH E a CoLUMBIa Commission The FICOM Annual Pension Reporting System Contents Introduction Filing the Annual Pension Report Financial Statements Required Technical Recommendations Recommended Browsers amp Settings Security _ _ _ Additional Software Clearing your Browser Cache Highlights of the Annual Pension Reporting System Navigation Bar Hidden Sections Navigation within Screens _ System Calculations n a a aaa a a a aa Print a Summary at any Time Built in User Guide Prior Fiscal Year Data Financial Information Returns FIR Data Validation Remittance Form Logout Instructions for Access 10 Lopin Sereen e ao aa aa a a a a a a a a a a 10 Instructions for APR Report Sections 11 Section 1 Plan Identification _ _ _ 11 Edit an Existing Role 11 Add a New Role 12 Section 2 Reporting Dates _13 Section 3 Membership s 13 Active Members 13 Former Members 14 Defined Benefit Members for combined DB amp DC plans only 15 Page 2 of 33 Superintendent
3. The FICOM Annual Pension Reporting System gt If you edit a Role to change the Company for example switch fundholder companies all previous address details will be removed Once you have entered the new Company name select a new Office location from the drop down list Once selected the complete address details will populate into the form If you do not see the location you need in the list add the address information in the Address Details section gt Click the Save button to confirm all your changes gt Inactivate role records no longer in use Please add an Ended on Date to any old role records where required you will be prompted to confirm the inactivation via a dialog box Note Required contact information varies depending on the role you select You may receive messages requiring you to add additional data Some missing or duplicate roles will result in an error or warning message through the system s validation process Add a New Role gt Add any new roles that are not already displayed by clicking the Add New Role button and filling in the required information gt When selecting a Company Name field simply begin typing a company name and after 3 characters have been entered a suggestion list will appear for you to select an entry only 10 matching records are displayed at a time If no match is found continue typing to narrow down your selection and complete your entry gt Once you have selected
4. Section 4 Current Service Contributions Use this section to report the amount of contributions both member and employer required to be remitted to the fund in accordance with the PBSA and PBSR in respect of employment during the plan fiscal year under review During data validation the system may identify questions about the Contribution data you have entered In each of these cases you will be required to provide additional information Note Figures must be reported on an Accrual Basis With the exception of Negotiated Cost Plans DO NOT include contributions made for payment of any unfunded liability or solvency deficiency as disclosed in the actuarial valuation report These are to be reported under Section 5 Special Payments Member Contributions gt Enter the total required member contributions as determined in accordance with the plan document gt Enter the amount of additional voluntary member contributions remitted to the fund if the plan provisions allow it gt For Defined Benefit Plans enter the amount of Optional Defined Benefit Contributions if any These are contributions made by a member to a pension plan to provide benefits under a defined benefit provision that are in addition to contributions required to accrue the basic pension gt The system will calculate a total for member contributions Note If the system determines a significant difference between the data entered and the data from t
5. button docked on each of the Report pages except page 1 that will generate a summary of your entries at any time The PDF document will clearly indicate DRAFT to ensure you do not confuse the preview summary with the final submission summary that is generated after you submit your report On the Plan Identification page and on the final Submission page the floating navigation tool that contains the PDF print button also includes a checkbox to specify whether the PDF should include all plan roles or just the currently active ones Use the checkbox to customize your report summary Built in User Guide On each data entry page of the web application you will find a link to the applicable user guide section Just click on the question mark icon to view helpful information Prior Fiscal Year Data The system populates specific prior year fields with the information you provided to FICOM on last year s Report You may edit some of these fields but you will be required to provide an explanation for the changes you make to prior year data The system is designed to detect significant variation from the prior year and the current year values More information is provided later about the variation thresholds You will be prompted to provide an explanation for significant variations Page 8 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Financial Information Returns FIR If your plan has De
6. yet paid from the plan at year end gt Enter amount for Other Payables include all other amounts owed or payable from the plan at the end of the fiscal year not included in the entries above gt The system calculates an amount for Total Payables Page 22 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Section 8 Adjustment to Pensions This section applies only to plans with a Defined Benefit provision It collects information on any regular or ad hoc increases to payments for retirees or surviving spouses in receipt of a pension gt Use the radio button to indicate if there were Increases made to the plan during the fiscal year under review If the No button is clicked proceed to the next page gt If the Yes button is clicked provide answers to all remaining questions o Select the appropriate radio buttons to account for the reason for the increase If other enter explanatory notes in the box provided o Click in the appropriate radio buttons to indicate the basis for the increase If percentage based specify the rate If flat dollar based specify the amount of the increase If other enter explanatory notes in the box provided o Select all applicable options from the list to account for the source of the funds If the other box is ticked please add an explanation in the box provided Financial Institutions Commission Page 23 of 33 The FICOM Annual Pension Reporting Sys
7. component only the beginning asset value must match the beginning asset value on Section 6 of the APR Where these values do not match an explanation will be required Where plans have both a DB and a DC component the beginning assets in the FIR cannot be more that the beginning assets on Section 6 of the APR Increase in Assets Increase Due to Investments gt Enter the amount of Investment Income interest dividends rents and sums earned on investments other than by an increase in their value whether or not the income has been realized For example the yield realized when treasury bonds are cashed and income generated by securities loans should be reported on this line gt Enter the amounts for gains or losses on investments e Realized gains or losses amounts gained or lost following an investment transaction measured from the fair value at the most recent financial statement date These amounts are also referred to as realized fair value e Unrealized gains or losses amounts gained or lost following a change in the fair value of investments or an adjustment following a change in the way they were valued measured from the fair value at the most recent financial statement date These amounts are also called unrealized fair value gt The system calculates a Total Increase Due to Investments Financial Institutions Commission Page 27 of 33 The FICOM Annual Pension Reporting System Contributions gt The c
8. of Pensions The FICOM Annual Pension Reporting System Active Members by Province 15 Significant Changes in Membership 15 Section 4 Current Service Contributions _ 16 Member Contributions 16 Employer Contributions 16 Defined Benefit Contributions Applicable only for DB plans 17 Contribution Base 17 Explanations 18 Section 5 Special Payments _19 Section 6 Plan Assets ___ o 20 Section 7 Receivables and Payables _ 21 Receivables 21 Payables 21 Section 8 Adjustment to Pensions _23 Section 9 Amendments 24 Section 10 Fees _ __ gt 24 Secti on 11 Comments a lt lt gt a aa i a a st 24 Section CRA gt gt gt 25 The Financial Information Return 27 A S ee 27 Increase in Assets 27 Decrease in Assets 29 Accounts Receivable ____ 30 Accounts Payable 30 Investment Summary 30 Comments 8 Certification and Submission 8 Section 12 Certification 31 Data Validation ____ Z a a a ee l Submitting the Report L 32 Attachments _ _ _ aeaa 2 Remittance Form s 32 Rejected Reports o a o o Financial Institutions Commission Page 3 of 33 The FICOM Annual Pension Reporting System Support 33 Page 4 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Introduction With the goal of developing enhanced filing procedures for pension plan administrators and consultants the Superintendent of Pensio
9. of new members who joined or were transferred into the plan gt The system calculates a subtotal Financial Institutions Commission Page 13 of 33 The FICOM Annual Pension Reporting System gt Enter the number of employees who retired during the year under review include normal early postponed and disability retirements from active membership gt Enter the number of employees who died during the year under review gt Enter the number of employees whose membership was terminated during the fiscal year refer to Section 1 Definitions of PBSA on our website gt The system calculates a subtotal gt The system calculates a total number of Active Members at fiscal year end Note In a multi employer pension plan termination of membership occurs when the member receives payment of his benefit whether as a commuted value or pension payments begin or at the end of 2 consecutive plan years in the which the member worked less than 350 hours of covered employment whichever is earlier Significant Changes in Active Membership Where the system determines a significant change in membership a new line will appear within the Active Members section requiring you to select a reason from a drop down list For plans with more than 100 members the threshold for change is 25 For plans with less than 100 members the threshold is 40 gt Select the reason that most closely explains the change in membership for the pl
10. the Expected Contribution Rate X Payroll you will be requested to verify the information or provide an explanation 4 For DB plans if there is more than a 15 variance between the required contribution reported and the expected contribution from your last filed valuation you will be requested to verify the information or provide an explanation Defined Benefit Contributions Applicable only for DB plans gt The date of the actuarial valuation for the plan is prepopulated If you feel a different valuation date is required you may enter a different one but you will be required to provide an explanation for your change Contribution Base gt If your contributions are based on Dollars per Hour please enter the Total Hours Worked gt Enter the Covered Payroll or Pensionable Earnings of the plan members whose contributions are based on a percentage of earnings The covered payroll or Pensionable Earnings figure to be reported is the total Covered Payroll or Pensionable Earnings for which contributions were made to the plan gt If the contribution base is other than hours or covered payroll or pensionable earnings provide a description in the box provided gt Tick the appropriate radio button to specify if employer contributions were the result of a collective agreement Financial Institutions Commission Page 17 of 33 The FICOM Annual Pension Reporting System Explanations Multiple validation rules are in place fo
11. the plan fiscal year Where the contribution receivables reported is more than 2 months of expected contributions you will be requested to verify your information or provide an explanation Receivables Receivables are any amounts owing to the pension fund at plan year end gt Enter the Employee Contributions Receivable which are current service contributions that were required to be paid to the pension fund but were not submitted until after the fiscal year end under review This should include member additional voluntary contribution optional defined benefit contribution and Special Payments receivable amount not received by the pension fund at the plan year end gt Enter the Employer Contributions Receivable which are current service contributions that were required to be paid to the pension fund by the employer in respect of covered employment during the fiscal year under review Include transfer deficiency amounts and special payments that were required to be paid in the fiscal year under review that have not been received by the pension fund as at the plan year end gt Enter Other Receivables at the plan fiscal year end which include investment earnings and income receivable interest dividends rents etc transfers not yet received and interest accrued on unpaid contributions gt The system calculates an amount for Total Receivables Payables Payables are any amounts that were due to beneficiaries or entities that
12. the warnings before you conclude your submission Remittance Form When you have successfully submitted your Report you can download a PDF summary that includes a remittance form Please print and use this form to remit your payment as it includes all relevant plan and transaction information We encourage you to save a copy of your report summary for your reference Please do not send a paper copy of the entire report to our office Logout Safely exit the file you are working in by clicking the Logout button All data will be saved Financial Institutions Commission Page 9 of 33 The FICOM Annual Pension Reporting System Instructions for Access Login Screen Access to filing an Annual Pension Report requires a Plan Number and CRA Number The Plan Number is the Provincial Registration Number issued by FICOM It must include the division number at the end The CRA Number is the 7 digit number issued by the Canada Revenue Agency CRA If you do not have a valid CRA number contact the CRA Registered Plans Directorate at 1 800 267 3100 or 613 954 0419 Example Plan Number 87654 1 CRA Number 0123456 1 Enter the Plan Number and CRA number 2 Click the Submit button Welcome to the FICOM Annual Pension Reporting System Access to filing an Annual Pension Return using this system requires a valid Plan number and CRA number The Plan number is the Provincial Registration number issued by FICOM and must include the
13. unrealized gains on interest rate equity commodity foreign exchange and other derivative contracts should be included as appropriate Page 28 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Decrease in Assets Plan expenses gt Enter the amounts for Investment Managers that were paid from the fund gt If such expenses were deducted from investment income they should not be listed on this line gt Investment management fees paid by the employer are not to be reported unless they were reimbursed by the pension fund gt Enter an amount for Other Expenses including Plan administration costs other than those reported above that were paid by the fund Administrative costs paid by the employer are not to be reported unless they were reimbursed by the pension fund gt The system calculates the Total Plan Expenses Benefits and Transfers gt Enter an amount for Benefits paid directly by the Plan which includes monthly or other periodic retirement pensions disability pensions and death benefits paid by the pension fund If you have reported pensioners on the Membership page you are required to enter a value here gt Enter the amount for Transfers from the Pensions fund to o Other Registered Pension Plans o Other transfers e g to an RRSP or a LIF amounts used to purchase an immediate or deferred annuity with an insurer and refunds to members gt Enter the amount for Lum
14. Division number at the end l Plan number Virerton CRA number Submit Verisign ABOUT SSL CERTIFICATES If you do not know your Plan number or CRA number please contact our office for assistance at 604 660 3555 or Pensions ficombc ca Based on your entry the system will populate information from the last Report filed If you do not enter correct Plan amp CRA numbers an error message will prompt you to re enter the numbers Page 10 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Instructions for APR Report Sections Section 1 Plan Identification Review the Plan information included on the page specifically the Role information It is the Plan administrator s responsibility to provide the Superintendent with up to date contact information for the plan For each role we require a person s full name including salutation and contact information We also recommend that unique email addresses be provided for individuals listed as contacts If your plan is administered by the employer you are required to have an Employer role entered If your plan is administered by a board of trustees you will be required to enter a contact in the role of Trustee Chair All plans require at least one Fundholder role All plans require a Day to day Administrator role The Employer Role is intended for a senior executive of the employer who has the authority to sign on behalf of the company sponsor
15. a Company use the Office drop down list to select a location Once selected the complete address details will populate into the form If you do not see the location you need in the list add the address information in the Address Details section The system will add the new location gt Click the Save button to confirm all your changes If you realize that you have selected the wrong role type for this contact you can re open the record and select a different role This is possible only for newly created roles not previously submitted role records Note Fundholder is the insurance company trust company 3 or more individual trustees BC Pension Corporation or any other organization authorized under the PBSA that hold the pension fund of the plan section 42 1 Page 12 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Section 2 Reporting Dates gt The end date of the reporting period is the Plan s fiscal year ending date If you modify the year end date you will be required to provide an explanation in the comment box provided gt If the plan was terminated or became inactive during the year click the Yes radio button and specify the date this change became effective The termination date cannot be greater than the current filing s fiscal year end date Section 3 Membership The Membership screen displays the number of Active Members reported at the end of the last fiscal year and
16. an gt Inthe case where none of the reasons apply select the option Other In this case please add additional information in the comment box in Section 11 Former Members gt Enter the number of pensioners receiving a regular pension payment out of the fund gt Enter the number of former members who still have an entitlement under the plan but who are not yet receiving regular payments out of the fund gt Enter the number of suspended members not accruing benefits gt The system calculates Total Former Members Page 14 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Defined Benefit Members for combined DB amp DC plans only gt Enter the number of active members in the DB component of the plan This value may not be more than the total Active members reported above gt Enter the number of former members in the DB component of the plan This value may not be more than the total Former members reported above gt The system calculates Total Defined Benefit Members Active Members by Province gt Enter the number of active members by province male and female This is the total of active members for both DB and DC components The system will calculate a total that must match the number specified on line 8 gt Enter the number of Included Employment members by province Financial Institutions Commission Page 15 of 33 The FICOM Annual Pension Reporting System
17. ase include your plan in the subject line of your email send to pensions ficombc ca Remittance Form After you have successfully submitted your Report click the Download button to generate a PDF summary of your final submission data which you can print or save Included on the last page of the PDF is a remittance form that contains the information required to process your fee payment Please remove the remittance form and send it along with your cheque and any required supporting documents to the Financial Institutions Commission Page 32 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Note Your Report will not be considered complete until FICOM receives your fees paid in full You may be subject to CRA late filing penalties if fees are not received on time Rejected Reports If the Report submitted contains information that is unacceptable an email message will be sent to the address provided on the certification page The administrator will be requested to make the required corrections to the data and re submit the Report Late filing penalties may be charged by the CRA if an acceptable Report is not submitted Support If you have questions about the Annual Pension Reporting system please contact FICOM at this number 604 660 3555 or email pensions ficombc ca Financial Institutions Commission Page 33 of 33
18. ccrual Basis gt Employer unfunded liability payments Employee unfunded liability payments Employer solvency deficiency payments Employee solvency deficiency payments Employer lump sum payments Employer transfer deficiency amounts VV VV V Y Employee transfer deficiency amounts Financial Institutions Commission Page 19 of 33 The FICOM Annual Pension Reporting System Section 6 Plan Assets Plan assets are the net assets held in the pension fund at the beginning of the plan fiscal year and at the end of the plan fiscal year The net market values reported must include the receivables and payables reported either under section 7 of the APR and or in the FIR For plans which include both a defined benefit and a defined contribution component you will be required to report the assets for each component gt The system will display the net market value of Assets at the beginning of the fiscal year If a correction is required you may modify the amount but you will be required to provide an explanation for the change as part of data validation gt Enter the net market value of the plan assets at the end of the fiscal year The amount reported must include the receivables and payables reported either under Section 7 or in the Financial Information Return In the case of a plan with both DB and DC components please enter the required amount in each field separately gt Click Yes or No to indicate whether members direc
19. d must include the amounts payable accrued basis The Net Assets at Year End must therefore include these amounts We require that you indicate the amounts payable included in the contributions reported gt Enter a total amount for Pension Benefits Refunds and Transfers Payable amounts that are owed but have not been paid at plan year end gt Enter a total amount for Other Amounts Payable owing at plan year end gt The system calculates an amount for Total Payables Investment Summary gt Enter the value of Cash or Short Term Assets gt Allocate the Investment amounts in the table accordingly at fair market value gt Use the Other column for pooled assets that cannot be attributed to Canada US or International alone gt Use the Other Investments row for investment types not listed gt Explain the entries in the Other column or Other row in the applicable comment box Page 30 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Certification and Submission Section 12 Certification The Report must be certified by an authorized officer of the plan who can attest that the information provided on the Report is true correct and complete Both the administrator name and email fields are editable and should be updated as required Note We accept your information as having been supplied in confidence however please note that the protection of confidentiality i
20. fined Benefit assets valued at more than 2 5 million and also has more than 50 total members both active and former members you will be required to complete a FIR as part of this Report For plans with both DB and DC components you will now be required to specify the DB assets and DB membership to determine if a FIR is required For DB only plans the application will determine if a FIR is required based on the asset and membership information you provide Where a FIR is required an additional tab will appear on the navigation bar and a new data entry page will be provided Data Validation When you have completed data entry on a page you may click the Check button to validate the data and identify potential errors A count summary of errors or warnings will display at the top of the screen Details and resolutions will display at the bottom of each page Each error or warning will have an identification number Please refer to this number if you call us for assistance When you complete the report and click the Validate button on the Certification page the system will perform a final validation to identify any remaining errors or warnings Each error or warning message displayed is linked directly to the page affected You are required to resolve all errors before submitting your Report Warning messages should be reviewed but they will not prevent you from submitting your Report You will be asked to acknowledge that you have reviewed
21. he last reporting period an explanation will be required Employer Contributions gt Enter the required employer contributions as per the plan documents collective agreements or the most recent actuarial valuation report for the period under review DO NOT include payments for unfunded liabilities or solvency deficiencies included under Section 5 Special Payments except for Negotiated Cost Plans gt For Defined Contribution Plans enter forfeited amounts if any Enter surplus assets used to offset Required Employer Contributions if applicable gt The System will calculate net employer contributions Page 16 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Note If the system determines a significant difference between the data entered and the data from the last reporting period an explanation will be required Contribution Validation The following list provides the thresholds used for contribution data validation 1 If there is more than a 20 variance between the required contributions reported this year and last year you may be requested to verify the information or provide an explanation 2 For Negotiated Cost plans if the reported contribution varies by more than 5 from the expected contribution Rate X Payroll Hours worked you will be requested to verify the information or provide an explanation 3 For DC plans if the reported contribution varies by more than 10 from
22. ing the pension plan in matters affecting the plan Additional Roles may also be included If your plan requires an Actuarial Valuation Report for example please provide us with contact information in an Actuary Role The system will not allow you to have more than one Employer Chair Day to Day Administrator Consultant Location of Books and Records or Actuary Role Edit an Existing Role gt Click on any of the Roles listed to review edit the contact information in a new window gt Edit existing role data if required If you change a Contact Name first or last name fields you will be prompted to specify whether this is a NEW person in this role or if it is the same person perhaps with a spelling adjustment or new married name If you change the Company Name to one the system does not recognize you will be prompted to specify whether this is a NEW company in this role or if it is the same company perhaps with a spelling adjustment or new business name Entering and saving a NEW Person or Company in an existing role will result in the automatic inactivation of the old Role record and the creation of a new Role record Editing the name of the SAME Person or Company in an existing role will simply update the existing record Please note that you may not change the role type for an existing role contact record Inactivate the old role record first and then create a new role record Financial Institutions Commission Page 11 of 33
23. ment Financial Statements Required If the pension plan s assets are valued at more than 10 million or if the Superintendent of Pensions requires them audited financial statements prepared in accordance with section 9 7 of the PBSA and 4 5 of the Pension Benefits Standards Regulations PBSR are to be filed Signed finalized audited pension fund financial statements are due no later than 270 days after the year end being reported on Where the pension fund is invested in a Master Trust or where the pension plan is made up of more than one division or unit each of which provides pension benefits on a distinct basis financial statements should reflect only the portion of the assets belonging to the reporting pension plan or division Financial Institutions Commission Page 5 of 33 The FICOM Annual Pension Reporting System Technical Recommendations Recommended Browsers amp Settings The site has been developed for use with Internet Explorer IE 8 or higher and Firefox version 10 0 or higher If you are using a browser other than IE or Firefox the login screen will provide you with a link to download one of these supported browsers with which to complete your APR JavaScript and Cookies must be enabled on your browser to use this site You will receive an alert to modify your settings if required Security This e filing system is VeriSign certified for your protection For added data security your APR session will
24. ns has implemented web based electronic filing for B C registered pension plans under its Pensions Electronic Reporting System Initiative This initiative now includes the Annual Pension Report APR and the Actuarial Information Summary AIS This User Guide covers the APR E Filing System The system can be accessed with the following link https fic efile gov be ca Filing the Annual Pension Report Pursuant to the provisions of the Pension Benefits Standards Act PBSA administrators of British Columbia pension plans are required to file an Annual Pension Report with the Superintendent of Pensions The Report is also used to meet the registered pension plan annual reporting requirements of the Canada Revenue Agency CRA The Report must be completed and filed with the Superintendent of Pensions within 180 days of the end of each fiscal year of the plan or within 60 days of the commencement of a winding up of the plan if the plan is required to be wound up Separate Reports are to be filed for each division or unit under a CRA registration number where benefits under each division unit are funded separately from each other Assets for each division unit may be pooled for purposes of investing but must be accounted for separately The APR E Filing System will automatically include pages for filing the Financial Information Return FIR for plans required to file one More detailed information on this topic is provided later in this docu
25. nter amounts for lines 1 4 The sum of lines 1 to 4 need not equal the difference in the asset values at the beginning and end of the plan year i total amounts transferred in from other RPPs DPSPs RRSPs etc ii net investment earnings or net losses mandatory entry iii total amount of benefits paid to beneficiaries iv total amount of all transfers to other plans including RPPs RRSPs and RRIFs 2 Enter the number of active persons connected with the employer generally one who owns directly or indirectly 10 or more of the issued shares of any class of the capital stock of the employer or a related corporation does not deal at arm s length with the employer or is a specified shareholder of the employer 3 Enter a value for the number of employers who participated in the plan at year end Depending on the answer you may move to question 4 question 7 or move directly to the certification page or FIR pages 4 Indicate if any plan members participated i in any other RPP or DPSP provided by the same employer sponsor ii in any other RPP or DPSP provided by a company affiliated with does not deal at arm s length with the employer sponsor 5 See definition of connected person in question 2 above and select the appropriate radio button 6 If the sponsor providing the plan is a corporation click Yes or No to indicate if the corporation underwent a change of control during the plan year Where the sponsor is n
26. ontribution fields will be populated with combined contribution and receivable amounts entered in the APR sections 4 and 5 You will not be allowed to edit the information in these fields To ensure consistency in the information provided in the report if you need to make any changes to contributions reported you will be required to make the change through APR sections 4 and 5 gt The system calculates the Total Contributions Transfers to the Pension Fund gt Enter an amount for Transfers to the Pension Fund from another pension plan an RRSP or a LIF Transfers receivable at plan year end must be reported including amounts receivable resulting from a merger during the period If the Superintendent of Pensions has not yet authorized the transfer of assets as a result of a merger this should be disclosed in the Comments section below Other Sources of Increase gt Enter an amount for Other Sources of Increase For the purposes of the PBSA this line includes o dividends refunds or other advantages granted during the fiscal year by an insurer enterprise or person doing business with the plan o interest charged on contributions transfers or other sources of increase in assets because of late payments o interest due on outstanding amounts at plan year end accounting adjustments made to correct bookkeeping errors Total Increase in Net Assets The system calculates the total increase in net assets Note Realized and
27. ot a corporation click Not Applicable Financial Institutions Commission Page 25 of 33 The FICOM Annual Pension Reporting System 7 Specify if any plan members were provided with post 1989 past service benefits in the plan year 8 Specify if any plan members who were connected persons were provided with pre 1992 past service benefits in the plan year 9 Enter an amount for Actuarial Liabilities resulting from plan obligations which means the total actuarial liability based on a funding method that matches contributions with accrued benefits on a reasonable basis 10 Provide the date of the last calculation of actuarial liability for plan obligations This date must be consistent with the valuation date reported in APR 6 Page 26 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System The Financial Information Return The FIR section applies only to DB Plans with assets of more than 2 5 million and more than 50 members total active and former Where a plan combines DC and DB components enter data only for the DB component of the plan Please enter full dollar amounts e g 10 000 for ten thousand dollars Report all amounts on an accrual basis Assets Net Market Value of Assets Beginning of Plan Year The Net market value of assets for the beginning of the plan year is prepopulated from the prior year FIR s Net market value at end of plan year value Where plans have a DB
28. p Sum Cash Payments cash payment of entitlements when individuals elect to receive cash or are required to take cash under the Income Tax Act Canada gt The system calculates the Total Benefits and Transfers Other Sources of Decrease gt Enter the amount for any other sources of decrease which might include uncollectible items such as contributions investment income transfers owing and accounting adjustments Total Decrease in Net Assets The system calculates the total decrease in net assets Financial Institutions Commission Page 29 of 33 The FICOM Annual Pension Reporting System Net Market Value of Assets End of Plan Year The system calculates the net assets at the plan year end The net assets shown on this line should equal the net assets at plan year end shown in Section 6 of the APR for DB and DB component plans Accounts Receivable The Contributions reported must include the amounts receivable accrued basis The Net Assets at Year End must therefore include these amounts We require that you indicate the amounts for receivables included in the contributions reported gt Enter the amount for Member Contributions not received by the plan year end gt Enter the amount for Employer Contributions not received by the plan year end gt Enter an amount for Other Amounts Receivable at plan year end gt The system calculates the Total Accounts Receivable Accounts Payable The Contributions reporte
29. provides fields to account for changes in membership during the fiscal year under review For plans with both defined benefit and defined contribution components a new section will be displayed that requires the number of members Active and Former participating in the defined benefit portion of the plan If the plan terminated in the reporting period you are required to report the number of active plan members affected on the date of termination If the number of active members drops to zero at the end of the fiscal year you will be required to provide an explanation Active Members Active Members are those who have joined the plan prior to the plan fiscal year end and have not terminated their membership or begun receiving a pension Include those whose membership was interrupted because of lay off suspension disability or leave of absence whether or not contributions were made on their behalf during the period under review Do not include former members who have terminated membership but still have benefits under the pension plan Please note that in the case of plans with both a defined benefit and defined contribution component these Active Member values are for the entire plan including both components gt The system displays the number of active members at the end of the last fiscal year Correct the value if required but if a change is made an explanation will be required as part of data validation gt Enter the number
30. r the data entered on this page When validation is invoked by clicking Check on the floating navigation bar or when submitting your report you will see the full error and resolution text at the bottom of the page In some cases you will also be provided with a corresponding text box in which to type an explanation if data correction is not applicable in your plan s case Page 18 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Section 5 Special Payments Special Payments are applicable to plans with a defined benefit component Special payments include those amounts recommended by the fund s actuary as being required to amortize unfunded liabilities or solvency deficiencies over prescribed periods of time Other types of special payment would be a lump sum amount remitted by the employer to cover in full the cost of amendments that increased the plan s liability as well as transfer deficiency payments made by the employer to offset shortfalls in benefit payouts when the transfer ratio of the plan is less than 100 If your Actuarial Valuation Report indicates special payments are required you will be required to report special payments in your APR report Where required special payments are missing entirely or below expected amounts you will be required to provide an explanation Enter amounts for any of the items on the form Please remember that Special Payments must be reported on an A
31. s subject to the law particularly the provision of the Freedom of Information and Protection of Privacy Act gt Verify the suggested name of the administrator i e an executive officer a corporate administrator or an authorized member of the board of trustees who has overall authority for the pension plan Change the name if necessary gt Verify the administrator email address in the lower portion of the page This will be the contact email address used by FICOM regarding any problems or questions concerning the Report and may be changed as required gt Click the Validate button to trigger a system validation of the data you submitted If any errors or warnings remain they will be displayed on the data validation page If no questionable entries are found you will be directed to submit the file to the Pensions Department of the Financial Institutions Commission Data Validation The Validation page displays any warnings or error messages applicable to the data in the Report Errors will prevent submission of the Report and must be corrected Warnings will not prevent submission of the Report but should be reviewed carefully to prevent mistakes gt Click on any error or warning in the list to be taken directly to the affected report page You will then see a summary of all applicable warnings errors for that section at the bottom of the screen Instead of a Next button you will see a Save and a Validate button
32. sions of stored pages click the button Every time I visit the webpage Page 6 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System If you want to store cached web pages but you need to clear the cache one time click the Tools Internet Options menu On the General Tab in the Browsing History section click the Delete button Within the Delete Browsing History pop up window make sure the Temporary Internet Files is selected Then click the Delete button Consider deselecting other options in this window before clicking Delete e For Firefox users we recommend clearing the browser Cache in one of the following ways If you never want Firefox to store webpages in the cache click the Tools Options menu Click Advanced and then on the Network tab in the Cached Web Content section make sure the Override automatic cache management check box is selected Then set the value Limit cache to 0 MB of space If you want to store cached web pages but you need to clear the cache one time click the Tools Options menu Click Advanced and then on the Network tab in the Cached Web Content section click the Clear Now button Highlights of the Annual Pension Reporting System Navigation Bar In addition to a floating Next Previous button on each form the system also features a navigation bar which allows you to move easily from section to section of the Report If data is entered into the Repor
33. t indicating that a FIR is required for your plan the FIR section will be displayed in the navigation bar FICOM has disabled your internet browser s back and forward buttons during use of this system for added security The screen capture below shows the navigation bar when FIR data is NOT required to be submitted for the plan When FIR data is also required an additional navigation square will appear on the bar Financial Institutions Superintendent of Pensions 11 CRA Certify BRITISH CotuMBiA Commission Hidden Sections To keep the screens uncluttered and easy to use some sections are hidden and only appear when a question s answer requires further information Look for date fields radio buttons comment boxes and additional questions to display as you enter your data Financial Institutions Commission Page 7 of 33 The FICOM Annual Pension Reporting System Navigation within Screens The forms are designed to allow easy navigation from field to field using the Tab or Enter keys on your keyboard Note that if an on screen action button is highlighted the Enter key will execute that action and not serve as a navigator The Up Down arrows on your keyboard will increase or decrease numeric values entered in a field System Calculations Subtotals and Totals are calculated by the system for your convenience These fields are shaded blue and may not be edited Print a Summary at any Time There is a PDF
34. t the investment of any portion of their own accounts under the plan i Click Yes or No to indicate whether or not the plan is being administered in accordance with The Guidelines for Capital Accumulation Plans CAP Guidelines ii Where members direct some or all of their own investments and the plan is not being administered in accordance with the CAP Guidelines please explain why in the applicable comment box gt Click Yes or No to indicate whether the Statement of Investment Policies and Procedures has been reviewed during the plan s fiscal year under review gt Click Yes or No to indicate whether the Statement of Investment Policies and Procedures has been amended during the plan fiscal year under review If so a copy of the amended statement must be filed with FICOM Please note that if your plan has Defined Benefit assets valued at more than 2 5 million and also has more than 50 total members both active and former members a FIR is required Page 20 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Section 7 Receivables and Payables This section is required to be completed for all Defined Contribution plans as well as for Defined Benefit plans with assets of less than 2 5 million and less than 50 active members It is generally expected that plans will report contribution receivables at the end of the year unless ALL payments due to the plan were made to the fund before the end of
35. tem Section 9 Amendments The Amendments section tracks whether any amendments were made to the plan during the fiscal year under review gt Click Yes if any Amendments were made during the fiscal year under review gt Enter notes in the box provided detailing the amendment number if applicable and relevant dates gt Click Yes or No to indicate if amendments have been submitted to the Financial Institutions Commission s pensions department If you answer No you will need to file your amendments with FICOM as soon as possible Section 10 Fees The Fees section displays the fees payable based on the calculations specified Your Report will be considered incomplete until FICOM receives your fees paid in full gt Please make your cheque payable to the Minister of Finance in the amount specified A remittance form is included in the final Report summary which should be downloaded upon successful submission of the Report Section 11 Comments Add any additional comments for or explanations of answers given in any of the previous sections Page 24 of 33 Superintendent of Pensions The FICOM Annual Pension Reporting System Section CRA FICOM collects information on behalf of the Canada Customs and Revenue Agency If you have questions about this page please contact the CRA Registered Plans Directorate telephone enquiries service at 1 800 267 3100 or 613 954 0419 Please complete all fields 1 E
36. time out after 20 minutes of session inactivity Inactivity means no use of the Check Save button and no navigation from one page to another After 15 minutes of inactivity a new screen will alert you to an impending session time out and will provide a link to return to your session where you must click Check Save or navigate to a new page to restart the timer If your session does time out you will be re directed to a new page and will be required to log in and re enter any un saved data in the last page you had open Your data is automatically saved when you navigate from one page to another within the application Additional Software You will need to have a current version of Adobe Reader installed on your computer to view the summary of your filing report which may be generated at any time during the reporting process Clearing your Browser Cache Updates to Pensions E Filing applications are made periodically Please check the login page for information about recent updates When updates have been made it is important you clear the browser cache before logging into the system e For Internet Explorer users we recommend clearing the browser Cache in one of the following ways If you never want Internet Explorer to store webpages in the cache click the Tools Internet Options menu On the General Tab in the Browsing History section click the Settings button Within Temporary Internet Files in the section Check for newer ver
37. were not paid out of the fund by the plan year end gt Enter an amount that combines the following i Pension Benefits Payable periodic payments payable to retired disabled members survivors ii Refunds Payable cash payments to terminated members beneficiaries that were requested in the plan year but which had not yet been completed by the plan year Financial Institutions Commission Page 21 of 33 The FICOM Annual Pension Reporting System end or to the employer to avoid revocation of the plan or to return forfeited employee contributions to the employer iii Transfers Payable termination death payments to be transferred to another type of Plan that were requested in the plan fiscal year but which had not yet been completed by the plan year end gt Enter the Investment Expenses Payable include fees payable from the fund for brokerage and transaction fees when not added to the cost base of the investment or deducted from the proceeds of disposition securities broker s or financial manager s fees custodial fees and other expenses related to managing the investments that are owed but not yet paid at year end Do not report expenses if they were deducted from investment income or if investment management fees were paid for by the employer gt Enter amount for Other Administrative Expenses Payable include professional fees Board of Trustees fees and all other pension plan administrative expenses owed but not
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