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BCFSA has today announced that Michael Peters, Senior Advisor to the CEO, will be proceeding to retirement as of August 12, 2022. BCFSA hopes you will join us in congratulating Michael on an impactful career. Prior to the integration of BCFSA and the Real Estate Council of BC, Michael served as the Vice-President and Deputy Superintendent of Pensions. Michael will continue to be engaged in the work of BCFSA as he moves towards his retirement date.
Michael’s career in pensions has spanned over three decades and he has embodied strong leadership throughout that time. Not only has he shown strength in his role by empowering others, but he has also led by example as a collaborative, solutions-oriented, and principled leader.
Starting with the Registered Plans Division of Revenue Canada in June 1988, Michael joined the Pension Standards Branch of the Ministry of Skills Development and Labour in May 1994. The Branch was amalgamated with the Financial Institutions Commission in April 2004 and Michael became Deputy Superintendent of Pensions in June of that year. Michael was also Acting Superintendent of Pensions from July 2016 to July 2019.
Anybody who has had the pleasure of working with Michael knows that he carries a wealth of knowledge coming from his many years of experience. From dealing with significant plan issues to his work in rewriting the Pension Benefits Standards Act, Michael’s contributions will impact pension plan stakeholders province wide. His work has consistently contributed to the modernization of the sector. It is easy to see that in 34 years, Michael was instrumental in working toward an effective and efficient regulatory approach. Michael also supported the transition from FICOM to BCFSA.
One of the recent highlights of Michael’s career was his leadership role in the development of the Agreement Respecting Multi-jurisdictional Pension Plans. This instrumental Agreement, which was more than 20 years in the making, will have a lasting impact on the administration of pension plans with members in more than one jurisdiction across Canada. This work was at an impasse until Michael representing British Columbia joined the committee illustrating his dedication and tenacity to get the job done.
In his retirement, Michael plans to continue his education, volunteer or seek board memberships for non-profit and charitable organisations, and to travel.
Congratulations, Michael, on your retirement.