The Canadian Association of Pension Supervisory Authorities is releasing a consultation draft of revisions to its guidelines for capital accumulation plans.
The updated guidelines replace the 2004 document and reflect the expectations of regulators regarding the operation of a workplace CAP, regardless of the regulatory regime applicable to the plan.
Read: CAPSA developing multi-jurisdictional VPLA framework for DC pension plans
“These guidelines are also relevant where plan sponsors have chosen to offer retirement income options as part of or as an extension to their CAPs and many of the administration, investment and communication principles will apply equally in the accumulation and decumulation phases,” said the CAPSA in a letter to stakeholders.
Comments on the revisions are requested by Aug. 15, 2022.