FSRA/OSFI Defined Contribution (DC) Pension Plans Technical Advisory Committee
Meeting summary
Date: Friday, March 26, 2021
Time: 10:00 a.m. to 1:00 p.m.
Location: Videoconference
This summary sets out the key points discussed at the March 26, 2021 meeting.
Presentation from the UK Pension Regulator (TPR)
The Committee welcomed representatives of TPR who discussed the ongoing shift from DB to DC plans in the UK. The presentation provided Committee members with background on the increasing use of master trusts and the framework that was developed by TPR to register and regulate them. The presentation provided insight into the challenges that arose for TPR when the regulatory framework was created, as well as the successes of master trusts and improvement in the operation of trustee boards to meet TPR’s objective of improving pension plans.
Review of Working Groups Findings
The Investment and the Fees working groups provided a summary of their work to the Committee for discussion.
Future Working Groups
The Committee will establish a working group with the objective of reviewing regulatory processes, filings and data collection. This group will report to back to the Committee at the next meeting.
Next Meeting
The next meeting of the Committee will be on Friday, May 7, 2021.
Attendance Record
Invited/Attended |
Company Name |
Attendance Status |
---|---|---|
Caroline Blouin |
FSRA - EVP and TAC Chair |
VC |
Tamara DeMos |
OSFI - Managing Director, Private Pension Plans Division and TAC Chair |
VC |
Alex McKinnon |
United Steelworkers |
VC |
Brett Marchand |
Manulife Financial Corporation |
VC |
Corienne Logan |
Many Nations Co-operative Ltd. |
VC |
David Vincent |
Canadian Benefits Law |
VC |
Jo-Ann Hannah |
Retired |
VC |
Joe Nunes |
Canadian Institute of Actuaries |
VC |
Lisa Janov |
Pension Investment Association of Canada |
VC |
Martin McInnis |
Co-operative Superannuation Society Pension Plan |
VC |
Michael Dodd |
Co-operators Group |
VC |
Michelle Loder |
Morneau Shepell Ltd. |
VC |
Paul Webber |
Cowan Insurance Group |
VC |
Roger Maguet |
Canada Life |
VC |
Roman Kosarenko |
George Weston Limited |
VC |
Susan Bird |
Multi Employer Benefit Plan Council of Canada |
R |
Susie Taing |
Sun Life Assurance Company |
VC |
Tim Mark |
Royal Bank of Canada |
VC |
Todd Saulnier |
Association of Canadian Pension Management |
VC |
Zaheed Jiwani |
Eckler |
VC |
Fred Barry, Geoff Cheetham, Nick Phillips |
The Pension Regulator (TPR) |
VC |
Antoinette Leung, Arielle Brenman, Barbara Austin, David Bartucci, James Hoffner, Jesse Heath-Rawlins, Lynn Barron, Mark Eagles, Paul Martiniello, |
FSRA |
VC |
Benoit Briere, Chuck Saab, Mike Ius, Nadine Atallah, Sydney Roy |
OSFI |
VC |
Carolina Geronimo, Jenny Chau |
British Columbia Financial Services Authority |
VC |
Kathleen Wrye, Neil McKinnon |
Department of Finance |
VC |
Alex Killoch, Cole Mathews |
Ministry of Finance |
VC |
[1] Please consult our Meeting Summary from December 11, 2020 for details on the Committee’s purpose.