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

Meeting summary

Date: Thursday, June 23, 2022
Time: 10:00 a.m. to 11:30 a.m.
Location: Videoconference

This summary sets out the key points discussed at the June 23, 2022, meeting.

General Items

  • FSRA updated the committee on the annual business plan and confirmed it is on track.
  • FSRA reiterated that the Form 1.1 has been updated and is available on the website. As of June 30, 2022 FSRA will no longer accept amendment applications using the old Form 1.1. The new Form 1.1. has also been built into the Pension Services Portal (PSP) and is FSRA’s preferred method of being submitted. After December 31, 2022, using the Form 1.1 on the PSP will become mandatory.
  • FSRA has updated its asset transfer service standards from 150 calendar days to 120 business days. This change was made to be consistent with other service standards which utilize business days.

Member-Focused Work

  • FSRA presented to the group on three upcoming member-focused initiatives: a paper on member communication and engagement, Pension Awareness Day and a Member Resource Centre for FSRA’s website.

Guidance Updates

  • FSRA updated the committee on guidance documents that are in progress.

Improving Regulatory Harmonization Across Canada

  • CAPSA recently released four guidelines for comment. FSRA will also separately launch a small survey on cyber security and consider a webinar in the fall.

Complaints Framework

  • FSRA will go out to the industry to better understand dispute resolution mechanisms using a cross-section of pension plans.

Committee Membership

  • The committee was advised that some committee members’ terms expire at the end of June 2022. Those expiring members were thanked for their service. FSRA informed the committee that it intends to call for new members to replenish the committee membership in the summer.

Next Meeting

  • The next meeting of the committee is scheduled for October 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

VC

Paul Winnett

Morneau Shepell Ltd

VC

Philip Morse

Willis Towers Watson

VC

Rachel Arbour

HOOPP

VC

Scott Clausen

Mercer

VC

Susan Philpott

Goldblatt Partners

VC

Daniel Padro, David Bartucci, , Jennifer Mullen, Jessica Ramdin, Karima Shajani, Lester Wong, Patrick Rettig, Tim Thomson

FSRA

VC

Kevin Curtin

MOF

VC