Ad Hoc Technical Advisory Committee
for Missing Members in the Pension Sector

Meeting Summary

Date: Thursday, October 10, 2019
Time: 1:30 p.m. to 4:30 p.m.
Location: Financial Services Regulatory Authority of Ontario

This summary sets out the key points discussed at the October 10, 2019 meeting.  

Purpose of Committee

This special purpose “ad hoc” committee will look at ways to better ensure that plan members remain connected to their pensions, assist in the development of best practices that promote good plan administration, and reduce the administrative burden associated with retained benefit entitlements and missing members.

Magnitude of Missing Member Issue

The committee reviewed a preliminary data set to facilitate a discussion on the factors that may impact how and why members get disconnected from their pensions and potential environmental factors such as sectors, plan types, etc. Further trend analysis is underway and will help inform the committee on future strategies, tactics and policy recommendations.

Impact of Missing Members on Pension Plans

There are substantial administrative costs associated with searching for missing members in order to provide information and ultimately make payment of benefits.  Committee members discussed and will further discuss how to fulfill fiduciary duties, determining an appropriate cost/benefit analysis for searches, identifying best practices in terms of data management and enhanced communication with members before, during and after their termination from a pension plan.

Understanding Causes of Missing Members

The reasons that members become missing is varied and complex.  The committee discussed and will continue to discuss causes in order to create practical solutions for members who are already missing, and best practices which will optimize the number of members that stay connected with their pensions in the future.

Attendance Record


Invited/Attended

Company Name

Attendance Status
(A)ttended; (R)egrets; (S)ubstitute; (TC)Teleconference

Caroline Blouin

FSRA - EVP and TAC Chair

A

Anna Zalewski

Ontario Teachers Pension Plan

A

Doug LeFaive

Goldblatt Partners, LLP

A

Glorie Alfred

Osler

A

Melodie Mason

CSA Group

A

James Hoffner

SunLife

A

James Pierlot

Blue Pier

A

John Hnatiw

Morneau Shepell

A

Jennifer Agnew

BMKP Law LLP

A

Joseph Tang

Mercer

A

Karen Kahansky

Willis Towers Watson

A

Kimberly Houston

McAteer Group

A

Nadine Orr

RBC Insurance

A

Patrick Rettig

Unifor

A

Paul Migicovsky

Ontario Municipal Employees Retirement System (OMERS)

A

Scott Linnell

Fiat Chrysler Canada

A

Tracey Ball

Healthcare of Ontario Pension Plan (HOOPP)

A

Vinod Armoogum

MoF

R

Helen Trochluk

MoF

A

Mark Eagles

FSRA

A

Lynn Barron

FSRA

A

Michael Palozzi

FSRA

A

Anne Slivinskas

FSRA

A

Jessica Rose

FSRA

A

David Bartucci

FSRA

A

Julina Lyn

FSRA

A

Available in French upon request.