(April 6 – 18:00 ET) – Basic investment disclosure principles for defined-contribution pension plans was a major topic of discussion at the semi-annual meeting of the Canadian Association of Pension Supervisory Authorities (CAPSA).
“In recent years, there has been a trend toward defined contribution (DC) pension plans allowing members to choose their own investments,” says Sherallyn Miller, chair of CAPSA and Superintendent of Pensions for British Columbia. “Most DC plans are administered by financial institutions who do a good job educating plan members about investments, but regulators have a key role in making sure that all DC plan members have the information they need to make their investment choices.”
CAPSA is developing basic investment disclosure principles for DC pension plans as part of a working group of the Joint Forum of Financial Market Regulators.
Another CAPSA priority is promoting the simplification and harmonization of pension regulation. To assist governments to achieve this goal, CAPSA is developing the principles for a model pension standards law. A number of basic principles relating to minimum pension standards have already been agreed upon. Work on additional principles will be completed over the next few months.
“When governments turn to pension law reform, they will have our model law at hand to assist them in achieving the desired harmonization in this very complex field.” said Miller.
-IE Staff