The Pension Benefits Guarantee Fund (PBGF) provides protection, subject to specific maximums and specific exclusions, to Ontario members and beneficiaries of privately sponsored single-employer defined benefit pension plans in the event of plan sponsor insolvency. The PBGF is governed by the Pension Benefits Act and Regulations, and is administered by the Superintendent of the Financial Services Commission of Ontario.
More detailed information about the PBGF can be found in the following links:
PBGF Financial Statements
In October 2004, the PBGF allocation process was revised to expedite the transfer of funds from the PBGF to a pension plan as well as maintaining current accountability and safeguards.