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Standing Technical Advisory Committee for Defined Benefit Single Employer Pension Plans (SEPP)

Meeting summary

Date: Wednesday, October 26, 2022
Time: 1:30 p.m. to 3:00 p.m.
Location: Videoconference

This summary sets out the key points discussed at the October 26, 2022 meeting.  

Committee membership

  • The committee welcomed new members.

General items

  • The committee discussed proposed federal legislation dealing with pensions and bankruptcies of plan sponsors, surplus in combination plans, gender identity issues and unclaimed balances where there are missing members.

Member-focused work

  • FSRA updated the committee on upcoming member-focused initiatives: a paper on member communication and engagement, a Member Resource Centre and other related updates to FSRA’s website. The committee was given an update on the first Pension Awareness Day in February 2023.

Guidance updates

  • FSRA updated the committee on guidance documents that are in progress, including guidance related to plan amendments, actions that the administrator can take to comply with the federal Income Tax Act and PBGF Assessments.

Improving regulatory harmonization across Canada

  • CAPSA recently completed consultations on four guidelines. The committee was updated on the progress of this and other work.

Late filings

  • FSRA provided an update on actions it will take to address late filings, as first released in the Q1 and Q2 2022 FSRA Pensions e-blasts. The committee provided feedback.

Next meeting

The next meeting of the committee is scheduled for Spring 2023.

Attendance record

Invited/Attended

Company Name

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

Jennifer Rook

FSRA – Head, Pension Operations and Regulatory Effectiveness and Committee Co-Chair

VC

Mitch Frazer

Torys LLP and Committee Co-Chair

VC

Andrea Boctor

Osler, Hoskin & Harcourt LLP

R

Bill Watson

Mercer

R

Brent Simmons

Sun Life

VC

Jason Vary

Actuarial Solutions Inc.

VC

Lisa Mills

BMKP Law LLP

VC

Louis Duranleau

Norman Beaudry

VC

Rohan Kumar

Willis Towers Watson

VC

Sandeep Kakan

Unifor

VC

Simon Nelson

Eckler Ltd.

VC

Steve Wilson

PricewaterhouseCoopers LLP

VC

Tejash Modi

Morneau Shepell

R

William Jones

Canadian Federation of Pensioners

P

Winston Woo

AGS Automotive/Canadian Manufacturers & Exporters

VC

Andrew Fung, Daniel Padro, David Bartucci, Dillon De Coteau, Jennifer Mullen, Karima Shajani, Lester Wong, Mark Eagles, Paul Dempsey, Paul Martiniello

FSRA

VC

Jeff Sweeting

MOF

VC

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