The Canadian Association of Pension Supervisory Authorities (CAPSA) released two new guidelines on Monday, September 9, 2024: the Guideline for Capital Accumulation Plans (No. 3) and the Guideline for Risk Management for Plan Administrators (No. 10). Both reflect CAPSA’s view of leading practices in pension management, based on the experiences of the past 20 years.
The new guidelines replace those originally released in 2004 by the Joint Forum, and are the result of work led by CAPSA alone, therefore by pension regulators exclusively.
The deadline for implementation, regardless of the size and sophistication of the plan, is January 1, 2026.
CAPSA develops practical solutions to further the coordination and harmonization of pension regulation across Canada.
Some information on CAPSA’s two new guidelines
The new version of Guideline No. 3 reflects CAPSA’s views on the responsibilities of Capital Accumulation Plan sponsors, administrators and service providers. It also clarifies expectations with regard to:
- Industry best practices for plan maintenance and administration,
- Information to be communicated to members.
Guideline No. 10 consolidates current approaches to pension risk management on topics including:
- Cybersecurity,
- Use of leverage,
- Third-party advisors or service providers,
- Investment governance,
- Environmental, social and governance issues.
Important details to follow in the coming weeks
Over the coming weeks, we will be exploring the components of these new guidelines in terms of administration and governance, investment options and the impacts on members. We will provide further details in subsequent articles.
Stay tuned!
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The Canadian Association of Pension Supervisory Authorities (CAPSA) released two new guidelines on Monday, September 9, 2024: the Guideline for Capital Accumulation Plans (No. 3) and the Guideline for Risk Management for Plan Administrators (No. 10). Both reflect CAPSA’s view of leading practices in pension management, based on the experiences of the past 20 years.
The new guidelines replace those originally released in 2004 by the Joint Forum, and are the result of work led by CAPSA alone, therefore by pension regulators exclusively.
The deadline for implementation, regardless of the size and sophistication of the plan, is January 1, 2026.
CAPSA develops practical solutions to further the coordination and harmonization of pension regulation across Canada.
Some information on CAPSA’s two new guidelines
The new version of Guideline No. 3 reflects CAPSA’s views on the responsibilities of Capital Accumulation Plan sponsors, administrators and service providers. It also clarifies expectations with regard to:
- Industry best practices for plan maintenance and administration,
- Information to be communicated to members.
Guideline No. 10 consolidates current approaches to pension risk management on topics including:
- Cybersecurity,
- Use of leverage,
- Third-party advisors or service providers,
- Investment governance,
- Environmental, social and governance issues.
Important details to follow in the coming weeks
Over the coming weeks, we will be exploring the components of these new guidelines in terms of administration and governance, investment options and the impacts on members. We will provide further details in subsequent articles.
Stay tuned!