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

Meeting summary

Date: Wednesday, June 26, 2024
Time: 11:00 a.m. to 12:00 p.m.
Location: Videoconference

This summary sets out the key points discussed at the June 26, 2024 meeting.

General items

  • The committee discussed the recent focus on increasing pension plan investments in Canada.
  • The Ministry of Finance updated the committee on the work to date for a target benefit framework.
  • FSRA let the committee know feedback on how FSRA is doing can be given to the leadership team at any time. FSRA will be sending a survey to the TACs to see what is working and what could be improved.

Member-Focused work

  • FSRA updated the committee on the work to date for the third Pension Awareness Day, taking place in February 2025. The committee and FSRA discussed how to increase participation.

E-Blasts

  • FSRA updated the committee on its approach to quarterly Pensions e-blasts and discussed the content and timing.

Examinations

  • FSRA provided an update on the examinations webinar which occurred in May 2024. The webinar had good attendance across the sector and received positive feedback. FSRA is working on FAQs and on developing a landing page on fsrao.ca dedicated to examinations.

Organization update

  • FSRA provided an update to the committee on recent changes to the organizational structure in the Pensions leadership team.

Improving regulatory harmonization across Canada

  • FSRA updated the committee on the work to date CAPSA has done on the Risk Management and Capital Accumulation Plan guidelines.

Principles-based regulation

  • FSRA provided an example of how FSRA regulates the pensions industry using a principles-based approach and discussed upcoming work around principles-based regulation.

Stakeholder Advisory Committee

  • FSRA updated the committee that FSRA will be calling for applications to the Stakeholder Advisory Committee. FSRA is looking for new members for that committee.

Next meeting

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

Attendance record

Invited/Attended

Company name

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

David Bartucci

FSRA – Head, Pension Plan Operations and Regulatory Effectiveness and Committee Co-Chair

A

Mitch Frazer

Mintz LLP and Committee Co-Chair

VC

Andrea Boctor

Osler, Hoskin & Harcourt LLP

VC

Jason Vary

Actuarial Solutions Inc.

VC

Jennifer Agnew

BMKP Law LLP

VC

Kimberly Houston

PBAS

VC

Louis Duranleau

Norman Beaudry

VC

Rohan Kumar

Willis Towers Watson

VC

Simon Nelson

Eckler Ltd.

VC

Tejash Modi

Morneau Shepell

R

William Jones

Canadian Federation of Pensioners

VC

Winston Woo

AGS Automotive/Canadian Manufacturers & Exporters

VC

Jennifer Mullen, Jessica Ramdin, Joanna Spadafora, Julina Lam Lyn, Lester Wong, Marco Ciavatta, Mathew Ou, Rhea Tubigan, Stephanie Babb, Trevor Cartlidge, Victoria Lesau

FSRA

VC

Jeff Sweeting

MOF

VC

Disponible en français sur demande.