iAtoday

Guideline No. 3 for Capital Accumulation Plans (the Guideline) from the Canadian Association of Pension Supervisory Authorities (CAPSA) now requires sponsors to continuously monitor their plans, including evaluating services, fees and tools and to adopt a governance framework. We took advantage of the publication of the Guideline to update and improve the management and governance tools we offer our clients.

My Client Space for plan sponsors

We have added self-service documents to the sponsors' My Client Space to simplify plan management and strengthen compliance monitoring. The new documents:

• Annual certificate of compliance
• Investment fund certificates of compliance (June and December)
• Opt-out form (if applicable to the plan)

The revised Guideline tab now incorporates the new requirements. 

Documents to support governance

We provide sponsors with documents that explain essential processes for effective plan and risk management:

• Personal data protection: a guide about control mechanisms to ensure confidentiality of members' data.
• Communication and education strategy: a description of the principles of our strategy and the tools used to convey clear and transparent information at each stage of the member retirement savings journey.

Administration Guides

We now specify, among other things, the documents to be provided to eligible individuals prior to their enrolment to help them make informed decisions.

My Client Space for members

We have enhanced the members’ My Client Space with information to support them in their decision-making. We have added a glossary of investment terms and explanations of key concepts in retirement savings, such as compound interest, the calculation of the internal rate of return and the assumptions used in the retirement simulator.

We have made these improvements to help you support your clients in complying with the new requirements, while simplifying governance and enhancing the member experience.