Standing Technical Advisory Committee for Public Sector Pension Plans (PSPP)

Meeting summary

Date: Tuesday, March 3, 2022
Time: 1:30 p.m. to 3:00 p.m.
Location: Videoconference

This summary sets out the key points discussed at the March 3, 2022, meeting.

Inflation

  • The group discussed the article on inflation that FSRA recently published.

Survey feedback (FSRA and administrative errors)

  • FSRA shared feedback received from the technical advisory committees (TACs) from a recent survey conducted by FSRA.
  • Common administrative errors and the possibility of future FSRA guidance in the area was also discussed.

Member engagement and communications

  • FSRA is working on a discussion paper on this topic, focusing on defined benefit plans.

Draft principles based regulation guidance

  • As a principles-based regulator, FSRA will be releasing draft guidance shortly to consult on FSRA’s approach to principles-based regulation. There will be sector-specific consultations, as well as a public consultation.

PBGF calculations draft guidance

  • The group discussed the recent draft guidance FSRA released for comment on deadlines and calculation of PBGF assessments.

Other draft guidance documents

  • FSRA advised that it was not yet ready to release draft guidance documents Pension Plan Amendments: Effective Date, Indexation Formula & Notice, and Limitations on Commuted Value Transfers and Annuity Purchases (DB Pension Plans).

Next meeting

The next meeting of the committee is scheduled for June 2022.

Attendance record

Invited/Attended

Company Name

Attendance Status 
(A)ttended; (R)egrets; (S)ubstitute; (VC)Videoconference

Andrew Fung

FSRA – Head, Relationship Management and Prudential Supervision (Pensions) and Committee Co-Chair

VC

Gareth Gibbins

OMERS and Committee Co-Chair

VC

Cynthia Crysler

Cavalluzzo LLP

VC

Danelle Parkinson

OPB

VC

David Gordon

CAAT

VC

Hrvoje Lakota

Investment Management Corporation of Ontario

VC

Jeff Sommers

Blake, Cassels & Graydon LLP

VC

Julie Belair

OPTrust

VC

Kevin Skerrett

CUPE National Office

VC

Len Elliott

OPSEU

R

Mary Cover

OTPP

VC

Murray Gold

Koskie Minsky

R

Paul Winnett

Morneau Shepell Ltd

VC

Philip Morse

Willis Towers Watson

VC

Rachel Arbour

HOOPP

R

Scott Clausen

Mercer

VC

Susan Philpott

Goldblatt Partners

R

Mark Eagles, Jesse Heath-Rawlings,
Jennifer Rook, Mathew Ou,
Paul Martiniello, Reesha Hosein,
Jessica Ramdin

FSRA

VC

Susan Ampleford

MOF

VC

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