Meeting summary - December 9, 2021

Technical Advisory Committee to identify ways to foster a vibrant employment-based pension pillar in Ontario

Meeting summary

Date: Thursday, December 9, 2021

Time: 1:00 p.m. to 3:00 p.m.

Location: Videoconference

This summary sets out the key points discussed at the December 9, 2021, meeting.

Presentation on paper titled “Affordable Lifetime Pension Income for a Better Tomorrow”

The paper published by the National Institute on Ageing and the Global Risk Institute examines Dynamic Pension pools, a financial decumulation vehicle that operates on a risk-sharing principle. The Committee welcomed the authors of the paper who shared insights and answered questions. 

The Committee members expressed interest on this initiative.  One area of specific interest was the operationalization of this concept, specifically, how Dynamic Pension pools are going to be rolled out. 

FSRA reiterated its support to Dynamic Pension pools and any other initiative focused on improving the pension sector.

Review of other agenda items 

The Committee discussed various products developed in previous meetings: Pension Awareness Day, improvement of data collection and digital records. With respect to Pension Awareness Day, the Committee expressed strong support for this project that is now included in FSRA’s 2022-2023 Statement of Priorities.

The Committee received updates on two initiatives related to data collection and digital records:

• changes to the investment information summary 
• collection of missing members data 

Finally, the Committee discussed and provided comments on two new reports that are currently under consideration.

Conclusion of committee 

The meeting concluded with thanks from the Chair to the committee members for their ideas and contributions.