Meeting summary - April 3, 2025

Standing Technical Advisory Committee for Defined Benefit Single Employer Pension Plans (SEPP)

Meeting summary

Date: Thursday, April 3, 2025
Time: 1:00 p.m. - 2:30 p.m.
Location: Hybrid

This summary sets out the key points discussed at the April 3, 2025 meeting.

General items

• The committee discussed the importance of innovation in the pensions space.
• FSRA updated the committee on the possibility of NOID guidance.
• The committee and FSRA discussed how to contact FSRA when a member has an inquiry.

Retroactive adverse amendments

• The committee was given a preview of the work FSRA is doing on reporting decisions made around retroactive adverse amendments. The committee appreciated FSRA's openness.

Guidance

• FSRA updated the committee on its approach to surplus guidance following the special purpose meeting with the committee in the last year.
• FSRA discussed with the committee guidance coming up for review in this fiscal year.

Communications and engagement update

• Members were given an update on the success of the third annual Pension Awareness Day on February 20, 2025. The campaign received national exposure, and planning is upcoming for next year’s Pension Awareness Day.

Upcoming reports

• FSRA updated the committee that the quarterly defined benefit solvency report would be issued shortly, and that it shows a healthy funded status of pension plans as of the end of 2024.
• FSRA updated the committee on the 2nd Pension Sector Overview and Activities Report which will be coming out later this fiscal year.

Next meeting

The next meeting of the Committee is scheduled for Summer 2025.

Attendance record

Disponible en français sur demande.