Standing Technical Advisory Committee for Defined Contribution (DC) Pension Plans
Meeting summary
Date: Thursday, October 24, 2024
Time: 1:30 p.m. to 3:00 p.m.
Location: Videoconference
This summary sets out the key points discussed at the October 24, 2024 meeting.
Committee survey update
The committee was presented with the results of the first survey of all Pensions Standing Technical Advisory Committee Members. Members discussed findings specific to the DC Plans Committee as well as cross-committee results including engagement; collaboration, meeting frequence, amongst others. Feedback was sought on ways to move forward. This will now become an annual survey.
Rules of engagement/expectation
The Committee discussed ways to focus the agenda to allow for a balance of updates and discussion. The Terms of Reference for all the Pensions Standing Technical Advisory Committees will be evaluated in the new year.
DC AIR data for sector overview
FSRA updated the committee on data collection for DC Plans or combo plans on AIR Data. Discussion centred around fees, plan membership size and ESG.
AMPs and filing issues
FSRA presented its approach to compliance with filing requirements and the levying of SAMPs for non-compliant plans.
DC SEPP to DC MEPP transfers
The committee discussed DC SEPP to DC MEPP Asset Transfers – the approaches taken, economies of scale and perceived risks in governance.
Communications & Engagement update
Members were given an update on the upcoming Pensions Awareness Day set for February 5, 2025, and FSRA Exchange to take place on March 3, 2025. Feedback was sought on stakeholder participation in the Pensions Awareness Day campaign as well as a canvass of topics for the 2025 FSRA Exchange Pensions Plenary session.
Wrap up
Committee Co-chairs thanked the committee for their time and sharing of expertise.
Next meeting
The next meeting of the Committee is scheduled for February 2025.
Attendance record
|
Invited/Attended |
Company name |
Attendance status |
|---|---|---|
|
Tim Thomson |
FSRA – Director, Pension Plan Operations and Committee Co-Chair |
A |
|
Caroline Helbronner |
Blake, Cassels & Graydon LLP and Committee Co-Chair |
A |
|
Michael Long |
WTW |
R |
|
Deborah Burden |
Manulife |
R |
|
Nadia Darwish |
Desjardins |
VC |
|
Mary Picard |
|
A |
|
Kim Francis |
Sunlife |
R |
|
Vartkes Rubenyan |
Mercer |
VC |
|
David Vincent |
Canadian Benefits Law |
A |
|
Dianne Tamburro |
Eckler |
R |
|
Brian Sweigman |
Goodmans |
VC |
|
Thu Truong |
IamGold |
VC |
|
Paul Webber |
|
VC |
|
Michelle Loder |
Telus |
R |
|
Tim Thomson; Jennifer Mullen, Rhea Tubigan, Karima Shajani; Anna Vani; Kathy Carmosino. Jessica Ramdin; Renee Fong |
FSRA |
VC |
|
Alex Killoch, Jeff Sweeting, Anjali Raghunath |
Ontarion Ministry of Finance |
VC |
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