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Standing Technical Advisory Committee for Defined Contribution (DC) Pension Plans
Meeting summary
Date: Wednesday, March 8, 2023
Time: 1:30 p.m. to 3:00 p.m.
Location: Videoconference
This summary sets out the key points discussed at the March 8, 2023 meeting.
Committee membership
- The committee welcomed new members.
General items
-
The committee discussed issues with inactive members who may be missing, and a more flexible benefit design.
DC annual information return filings
- FSRA updated the committee on the work examining the data gathered from defined contribution AIRs and preliminary findings.
New DC documents published
- FSRA published two new documents aimed at defined contribution plan administrators in January. These focus on what employers need to know.
Member-focused work
- FSRA updated the committee on the first Pension Awareness Day in February 2023. The committee was also updated on recent and upcoming work that is part of the Member Resource Centre, and other related updates to FSRA’s website.
Guidance updates
- FSRA updated the committee on the recently published guidance on actions that the administrator can take to comply with the federal Income Tax Act. FSRA also provided updates on upcoming guidance documents, including guidance related to plan amendments and proposed all-sector guidance on IT risk management, and general AMPs.
New working group
- FSRA discussed a new working group it is considering to intensively focus on proposed guidance. The committee gave feedback.
Improving regulatory harmonization across Canada
- FSRA provided an update to the committee on the progress of work on various CAPSA guidelines.
Late filings
- FSRA provided an update on the actions it has taken to address late filings, as a follow up to the October 2022 discussion. The committee provided feedback.
Auditor general report
-
FSRA updated the committee on the work it was doing in relation to the report’s recommendations.
Next meeting
The next meeting of the committee is scheduled for June 2023.
Attendance record
Invited/Attended |
Company Name |
Attendance Status |
---|---|---|
Mark Eagles |
FSRA – Director, Advisory Services and Committee Co-Chair |
VC |
David Vincent |
Canadian Benefits Law and Committee Co-Chair |
VC |
Caroline Helbronner |
Blake, Cassels & Graydon LLP |
VC |
Christine Dear |
Manulife |
R |
Kim Francis |
Sun Life |
VC |
Kim Ozubko |
Royal Bank of Canada |
R |
Mary Picard |
Dentons Canada LLP |
VC |
Michelle Loder |
LifeWorks |
VC |
Paul Webber |
Green Benefits Group |
VC |
Thu Truong |
Sobeys |
VC |
Vartkes Rubenyan |
Mercer |
VC |
Claire Woodcock, Dan Padro, David Bartucci, Jennifer Mullen, Karima Shajani, Joanna Spadafora, Paul Dempsey, Paul Martiniello, Rhea Tubigan, Siddhartha Kalita, Trevor McKillop |
FSRA |
VC |
Jacques Lobe Kingue, Jeff Sweeting, Krista Teichroeb, Pearl Vyas |
MOF |
VC |
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