2022 BCFSA Pensions Forum

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Defined Contribution Plans: Improving Retirement Outcomes for British Columbians

The pensions landscape is constantly evolving and much has changed since the last Pensions Forum held back in 2017. Since then, FICOM evolved into BCFSA and the real estate sector was added to their regulatory oversight, we have gone through a global pandemic and are experiencing more of the effects of climate change. All of these and more have brought a spotlight on the need for responsible investment of Canadian pension funds.

This is an important time to bring stakeholders together at BCFSA’s 2022 Pensions Forum to connect, learn, discuss pressing pension topics, and tackle emerging risks – all with the aim of improving retirement outcomes for British Columbians. 

This year’s forum, Defined Contribution Plans: Improving Retirement Outcomes for British Columbians, is split into four topics. Please note that participation in the forum is by invitation only and invitations are being sent to plan administrators and pension plan service providers. If you are a plan administrator or service provider and have not received an invitation, please send an email to [email protected].

For more information, please see the BCFSA Pensions Forum news release, and view the agenda.

Date: October 13, 2022

Breakfast Served7:45 am — 8:15 am
Welcome Remarks 

Saskia Tolsma, BCFSA’s Vice President of Stakeholder Engagement
8:30 am — 8:35 am
Highlights from BCFSA

Led by BCFSA’s CEO and Superintendent of Pensions, Blair Morrison and Senior Vice President of Supervision, Chris Elgar, this section will focus on, the financial services regulatory landscape in B.C., and the organizations supervisory framework as well as approach to emerging risk in pensions. 

Blair Morrison, BCFSA CEO and Superintendent of Pensions
Chris Elgar, BCFSA Senior Vice President of Supervision
8:35 am – 9:00 am
Panel Discussion 1: Effective Investment Strategy for Defined Contribution Plans

World events continue to impact the way pension funds are invested. The panelists will share their views and experience with respect to investment decisions for defined contribution (“DC”) plans, and their approaches to Environment Social and Governance (“ESG”) investing with the aim of improving retirement income for plan members now and into the future. 

Michael Peters, former Senior Advisor to BCFSA’s CEO
Panel members:
Debbie Wilson, University of British Columbia
Bradley Hough, PBI Actuarial Consultants Ltd

Jennifer Wood, Manulife
9.00 am – 10:00 am
Coffee Break10:00 am — 10:15 am
Panel Discussion 2: Decumulation Options – Plan Design Considerations

British Columbians spend their lives working, saving, and accumulating assets for retirement. At the time of retirement, options for how members decumulate assets may be limited.  What are some ways for plan administrators to improve retirement options for members?

The panelists will provide insights for DC plan administrators considering certain design options and they will offer perspectives on meeting retirees’ decumulation needs. 

Phillip Haggstrom, BCFSA Acting Manager of Pensions
Panel members:
Barbara Sanders, Simon Fraser University
Neil Lloyd, Mercer
Brendan George, George & Bell Consulting
10:15 am — 11:15 am
Panel Discussion 3: Effective Member Communication and Education Strategy

Too many British Columbians wait until they are approaching retirement age to start planning for retirement. There is an increasing need to engage plan members at different ages on retirement planning. This panel will focus on education strategies and approaches in getting DC plan members engaged in financial wellness/retirement planning. 

Jenny Chau, BCFSA Acting Director of Pensions
Panel members:
Lisa Weber, Canadian Forest Products Ltd.
Naveen Kapahi, D.A. Townley
Kim Duxbury, Sunlife
11:20 am — 12:20 pm
Closing Remarks12:20 pm — 12:30 pm