Pension Regulators (CAPSA) Release New Guidelines

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On March 1, 2011, the Canadian Association of Pension Supervisory Authorities (CAPSA) released the final version of Guideline No. 5 – Guideline on Fund Holder Arrangements.
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Copyright 2011, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Pension & Employee Benefits, March 2011

On March 1, 2011, the Canadian Association of Pension Supervisory Authorities (CAPSA) released the final version of Guideline No. 5 – Guideline on Fund Holder Arrangements. Also on March 1, CAPSA released drafts of the Pension Plan Prudent Investment Practices Guideline, its companion document, the Self-Assessment Questionnaire on Prudent Investment Practices and the Pension Plan Funding Policy Guideline.

Guideline No. 5 - Guideline on Fund Holder Arrangements clarifies the nature of fund holder arrangements and related good governance practices. Guideline No. 5 focuses on:

  • expanding CAPSA Guideline No. 4 – Pension Plan Governance Guidelines by highlighting the governance principles related to fund holder arrangements;
  • identifying the permitted types of fund holder arrangements;
  • discussing the respective roles and responsibilities of key players; and
  • providing stakeholders with information on what the regulator looks for when examining fund holder arrangements.

The Draft Guideline on Pension Plan Prudent Investment Practices and Self-Assessment Questionnaire is intended to provide guidance to plan administrators on how to demonstrate prudence in the investment of pension plan assets.

The Draft Guideline on Pension Plan Funding Policy is intended to provide guidance on the development and adoption of funding policies.

CAPSA is accepting comments on the draft guidelines and the self-assessment questionnaire until June 1, 2011.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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