Standing Technical Advisory Committee for Defined Contribution (DC) Pension Plans

Meeting summary

Date: Thursday, October 26, 2023
Time: 1:30 p.m. to 3:00 p.m.
Location: Videoconference

This summary sets out the key points discussed at the October 26, 2023 meeting.

Missing members

  • The committee discussed treatment of missing members in multi-jurisdictional pension plans.

Member-Focused work

  • FSRA discussed with the committee the upcoming Pension Awareness Day in February 2024 and ways to increase its reach.

Guidance updates

  • FSRA provided updates on upcoming pension-specific guidance documents, including guidance related to plan amendments and guidance on roles and responsibilities, as well as an upcoming consultation on rule-making authority with respect to family law.  The proposed all-sector guidance on general Administrative Monetary Penalties was discussed.

Improving regulatory harmonization across Canada

  • FSRA provided an update to the committee on the progress of work on various CAPSA guidelines.

Examinations

  • FSRA provided an update to the committee on the pilot examinations program which uses a risk-based and outcomes-focused approach.

Brewers retail decision

  • FSRA updated the committee on the court’s ruling. This was fact-specific and FSRA will continue to reject void amendments.

DC engagement and summary AMPs

  • FSRA updated the committee on the upcoming report on DC plan engagement, as well as summary administrative monetary penalties levied to date and how the process works.

Next meeting

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

Attendance record

Invited/Attended

Company name

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

Tim Thomson

FSRA – Director, Special Transactions and Committee Co-Chair

A

Caroline Helbronner

Blake, Cassels & Graydon LLP and Committee Co-Chair

A

Christine Dear

Manulife

VC

David Vincent

Canadian Benefits Law

A

Kim Francis

Sun Life

VC

Mary Picard

Dentons Canada LLP

A

Michelle Loder

LifeWorks

VC

Nadia Darwish

Desjardins

VC

Paul Webber

Green Benefits Group

A

Thu Truong

Sobeys

VC

Vartkes Rubenyan

Mercer

VC

Claire Woodcock, Dan Miles, Dan Padro, David Bartucci, Jesse-Heath Rawling, Karima Shajani, Leticia Cooper, Paul Dempsey, Paul Martiniello, Renee Fong, Rhea Tubigan, Siddhartha Kalita, Tamara DeMos

FSRA

VC

Jeff Sweeting, Krista Teichroeb

MOF

VC

Disponible en français sur demande.