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

Meeting summary

Date: Wednesday, June 29, 2022
Time: 2:30 p.m. to 4:00 p.m.
Location: 25 Sheppard Ave. West and Videoconference

This summary sets out the key points discussed at the June 29, 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.

Other Items

  • 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

Jennifer Rook

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

A

Mitch Frazer

Torys LLP and Committee Co-Chair

R

Bill Watson

Mercer

VC

Brent Simmons

Sun Life

VC

Cathy MacDonald

Canada Life

VC

Clio Godkewitsch

Goldblatt Partners LLP

VC

Sandeep Kakan

Unifor

S

Earl Davis

N/A

VC

Jason Vary

Actuarial Solutions Inc

VC

Ken Eady

Sears Retiree Group

R

Lilach Frenkel

Aon

VC

Lisa Mills

BMKP Law LLP

R

Rohan Kumar

Willis Towers Watson

VC

Simon Nelson

Eckler Ltd.

VC

Steve Wilson

PricewaterhouseCoopers LLP

VC

Tejash Modi

Morneau Shepell

VC

William Jones

Canadian Federation of Pensioners

A

Andrew Fung, Daniel Padro, David Bartucci, Jennifer Mullen, Karima Shajani, Lester Wong, Mark Eagles, Patrick Rettig

FSRA

VC

Krista Teichroeb, Louis Kalikow

MOF

VC

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