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Standing Technical Advisory Committee for Defined Contribution (DC) Pension Plans

Meeting Summary

Date: Thursday, February 29, 2024
Time: 10:00 a.m. to 11:30 a.m.
Location: Videoconference

This summary sets out the key points discussed at the February 29, 2024 meeting.  

General items

  • The committee discussed auto-enrolment in DC plans and an administrator’s fiduciary duty when giving financial advice.

Member-focused work

  • FSRA discussed with the committee the successes of the most recent Pension Awareness Day including multi-cultural outreach and discussions in media, as well as participation from the Minister of Finance.

Examinations

  • FSRA provided a reminder of the examinations program using a risk-based selection process and focus on governance and risk management. FSRA is working on information pages and a webinar on this topic.

FSRA Priorities

  • FSRA provided an update to the committee on its ongoing and upcoming work on sector priorities.

FSRA Exchange

  • FSRA gave the committee a sneak peek at March’s FSRA Exchange and that the Pensions group would break out to discuss principles-based regulation.

Vulnerable consumers

  • FSRA provided an update to the committee on its work to support vulnerable consumers and its relevance to pension plan members.

Decumulation guidance

  • The committee discussed FSRA’s decumulation guidance and how pensions fit into broader financial sector decumulation.

Next meeting

The next meeting of the committee is scheduled for Summer 2024.

Attendance record

Invited/Attended

Company name

Attendance status
(A)ttended; (R)egrets; (S)ubstitute; (VC)Videoconference; (P)Phone

Tim Thomson

FSRA – Director, Special Transactions and Committee Co-Chair

A

Caroline Helbronner

Blake, Cassels & Graydon LLP and Committee Co-Chair

VC

David Vincent

Canadian Benefits Law

VC

Dianne Tamburro

Eckler

VC

Kim Francis

Sun Life

VC

Mary Picard

Dentons Canada LLP

A

Michael Long

Willis Towers Watson

A

Michelle Loder

LifeWorks

VC

Nadia Darwish

Desjardins

VC

Paul Webber

Green Benefits Group

VC

Thu Truong

Sobeys

VC

 

Vartkes Rubenyan

Mercer

VC

Dan Miles, David Bartucci, Jennifer Mullen, Jesse-Heath Rawling, Jisha Sarwar, Karima Shajani, Leticia Cooper, Paul Dempsey, Paul Martiniello, Renee Fong, Rhea Tubigan, Stephanie Babb, Stuart Wilkinson, Tamara DeMos, Victoria Lesau

FSRA

VC

Reet Hess

MOF

VC