CAPSA releases DC guideline

The Canadian Association of Pension Supervisory Authorities (CAPSA) has released CAPSA Guideline No. 8 – Defined Contribution Plans Guideline and an accompanying reference document.

This guideline and reference document have been developed as part of CAPSA’s strategic initiative to review current approaches to regulating and supervising DC pension plans. Specifically, the Guideline does the following:

  • identifies guidance related to DC plans that has previously been released by CAPSA;
  • outlines and clarifies the rights and responsibilities of plan administrators, employers, plan sponsors, service providers, fund holders and members with respect to DC pension plans;
  • provides DC plan administrators with guidance regarding tools and information to provide to members while they are members of the plan and when they are choosing among retirement options; and
  • clarifies what constitutes an adverse amendment for DC pension plans or plans with DC components.
  • The guideline is available on CAPSA’s website.