Office of the Superintendent of Financial Institutions
Date: Friday, March 26, 2021Time: 10:00 a.m. to 1:00 p.m.Location: Videoconference
This summary sets out the key points discussed at the March 26, 2021 meeting.
The Committee welcomed representatives of TPR who discussed the ongoing shift from DB to DC plans in the UK. The presentation provided Committee members with background on the increasing use of master trusts and the framework that was developed by TPR to register and regulate them. The presentation provided insight into the challenges that arose for TPR when the regulatory framework was created, as well as the successes of master trusts and improvement in the operation of trustee boards to meet TPR’s objective of improving pension plans.
The Investment and the Fees working groups provided a summary of their work to the Committee for discussion.
The Committee will establish a working group with the objective of reviewing regulatory processes, filings and data collection. This group will report to back to the Committee at the next meeting.
The next meeting of the Committee will be on Friday, May 7, 2021.
Kathleen Wrye, Neil McKinnon