Meeting Summary
Date: Friday, October 16, 2020
Time: 9:30 a.m. to 11:30 a.m.
Location: Videoconference
This summary sets out the key points discussed at the October 16, 2020 meeting.
Public Consultation of FSRA Statement of Priorities and Budget
FSRA published its proposed 2021-22 Statement of Priorities and Budget for public consultation on October 13, 2020. The Panel heard about the pension sector priorities, which include identifying ways to foster a vibrant employment-pensions based system in Ontario, developing strategies for member communications and engagement, continuing enhancement of the prudential supervision framework, and improving regulatory effectiveness and efficiency.
The panel also heard about the work of the FSRA Consumer Office who are also working on stakeholder engagement and looking at new and innovative approaches to reaching consumers.
Draft Guidance on Asset Transfers
The Panel heard about new Guidance that was released for public consultation on September 11, 2020, entitled Supervisory Approach to Asset Transfers under the Pension Benefits Act. Panel members were encouraged to provide any feedback they may have.
FSRA/OSFI Defined Contribution (DC) Pension Plans Technical Advisory Committee
FSRA and the Office of the Superintendent of Financial Institutions (OSFI) have announced the establishment of a joint special purpose committee on DC pension plans. This committee will review the approaches of both regulators to supervising DC plans, and find, where possible, opportunities for regulatory harmonization. The committee’s terms of reference are on the FSRA website.
Attendance Record
Invited/Attended |
Affiliation |
Attendance Status |
---|---|---|
Lester Wong |
FSRA – Chief Actuary, Pensions and Committee Chair |
VC |
Bill VanGorder |
Chief Policy Officer pro tem, CARP |
VC |
Jolanta Morowicz |
Retired from pension consulting and research |
VC |
Linda Choptiany |
President, Ontario Colleges Retirees’ Association |
VC |
Mike Powell |
President, Canadian Federation of Pensioners |
VC |
Sharon Altman-Lehman |
President, Yellow Pages Pensioners’ Group, and Director, Canadian Federation of Pensioners |
VC |
Shelly Rae |
Founder of People R Us Inc., a full-service human resources and consulting company |
VC |
Lynn Barron |
FSRA |
VC |
Mark Eagles |
FSRA |
VC |
David Bartucci |
FSRA |
VC |
Taryn Pimento |
FSRA |
VC |
Jennifer Rook |
FSRA |
VC |
Jessica Rose |
FSRA |
R |
Cole Matthews |
MOF |
VC |
Available in French upon request.