Standing Technical Advisory Committee for Defined Benefit Single Employer Pension Plans (SEPP)
Meeting summary
Date: Wednesday, October 26, 2022
Time: 1:30 p.m. to 3:00 p.m.
Location: Videoconference
This summary sets out the key points discussed at the October 26, 2022 meeting.
Committee membership
- The committee welcomed new members.
General items
- The committee discussed proposed federal legislation dealing with pensions and bankruptcies of plan sponsors, surplus in combination plans, gender identity issues and unclaimed balances where there are missing members.
Member-focused work
- FSRA updated the committee on upcoming member-focused initiatives: a paper on member communication and engagement, a Member Resource Centre and other related updates to FSRA’s website. The committee was given an update on the first Pension Awareness Day in February 2023.
Guidance updates
- FSRA updated the committee on guidance documents that are in progress, including guidance related to plan amendments, actions that the administrator can take to comply with the federal Income Tax Act and PBGF Assessments.
Improving regulatory harmonization across Canada
- CAPSA recently completed consultations on four guidelines. The committee was updated on the progress of this and other work.
Late filings
- FSRA provided an update on actions it will take to address late filings, as first released in the Q1 and Q2 2022 FSRA Pensions e-blasts. The committee provided feedback.
Next meeting
The next meeting of the committee is scheduled for Spring 2023.
Attendance record
|
Invited/Attended |
Company Name |
Attendance Status |
|---|---|---|
|
Jennifer Rook |
FSRA – Head, Pension Operations and Regulatory Effectiveness and Committee Co-Chair |
VC |
|
Mitch Frazer |
Torys LLP and Committee Co-Chair |
VC |
|
Andrea Boctor |
Osler, Hoskin & Harcourt LLP |
R |
|
Bill Watson |
Mercer |
R |
|
Brent Simmons |
Sun Life |
VC |
|
Jason Vary |
Actuarial Solutions Inc. |
VC |
|
Lisa Mills |
BMKP Law LLP |
VC |
|
Louis Duranleau |
Normandin Beaudry |
VC |
|
Rohan Kumar |
Willis Towers Watson |
VC |
|
Sandeep Kakan |
Unifor |
VC |
|
Simon Nelson |
Eckler Ltd. |
VC |
|
Steve Wilson |
PricewaterhouseCoopers LLP |
VC |
|
Tejash Modi |
Morneau Shepell |
R |
|
William Jones |
Canadian Federation of Pensioners |
P |
|
Winston Woo |
AGS Automotive/Canadian Manufacturers & Exporters |
VC |
|
Andrew Fung, Daniel Padro, David Bartucci, Dillon De Coteau, Jennifer Mullen, Karima Shajani, Lester Wong, Mark Eagles, Paul Dempsey, Paul Martiniello |
FSRA |
VC |
|
Jeff Sweeting |
MOF |
VC |
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