Office of the Superintendent of Financial Institutions
Date: Friday, February 5, 2021
Time: 10:00 a.m. to 1:00 p.m.
This summary sets out the key points discussed at the February 5, 2021 meeting. To find the summary of the previous meeting held December 11, 2020, please follow this
With the general purpose of the CommitteeFootnote 1 in mind, this meeting focused on the review of the two working groups established at the last meeting: Member Engagement and Plan Design.
The Committee welcomed an introductory presentation from the Associate Deputy Minister of Finance responsible for the Saskatchewan Public Employees Benefits Agency (PEBA). PEBA administers a wide range of pension and benefits plans for public sector employees including the Public Employees Pension Plan (PEPP) – the largest DC pension plan in Canada. This informative presentation provided Committee members background on the development of PEPP and different elements of PEPP that have resulted in strong member satisfaction. This presentation provided insight into the successes of PEPP. It also provided a chance to discuss impactful ways PEPP engages and supports members throughout accumulation and decumulation.
The Committee reviewed the findings from the two working groups established at the last meeting: Member Engagement and Plan Design. While the Committee made no decisions at this time, high-level key findings of the working groups were noted:
Member Engagement: Key findings that emerged from the working group discussions were around:
Plan Design: Key findings that emerged from the working group discussions were around:
The Committee has established two more working groups, one with the objective of focusing discussions on plan investments and the other on fees. These groups will report to back to the Committee at the next meeting.
Please consult our Meeting Summary from
December 11, 2020 for details on the Committee's purpose
Return to footnote 1