CAPSA Governance Principles
CAPSA is the Canadian Association of Pension Supervisory Authority
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Principle 1
Fiduciary ResponsibilityThe plan administrator has fiduciary and other responsibilities to plan members and beneficiaries. The plan administrator may also have fiduciary and other responsibilities to other stakeholders
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Principle 2
Governance ObjectivesThe plan administrator should establish governance objectives for the oversight, management, and administration of the plan.
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Principle 3
Roles and ResponsibilitiesThe plan administrator should clearly describe and document the roles, responsibilities, and accountability of all participants in the pension plan governance process.
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Principle 4
Performance MeasuresThe plan administrator should provide for the establishment of performance measures and for monitoring the performance of participants who have decision making authority in the governance process.
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Principle 5
Knowledge and SkillsThe plan administrator, directly or with delegates, has a duty to apply the knowledge and skills needed to meet governance responsibilities.
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Principle 6
Access to InformationThe plan administrator and, as necessary, any delegates should have access to relevant, timely and accurate information.
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Principle 7
Risk ManagementThe plan administrator should provide for the establishment of an internal control framework, commensurate with the plan's circumstance, which addresses the pension plan's risk.
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Principle 8
Oversight and ComplianceThe plan administrator should provide for the establishment of appropriate mechanisms to oversee and ensure compliance with the legislative requirements and pension plan documents and administrative policies.
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Principle 9
Transparency and AccountabilityThe plan administrator should provide for the communication of the governance process to plan members, beneficiaries and other stakeholders to facilitate transparency and accountability.
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Principle 10
Code of Conduct and Conflict of InterestThe plan administrator should provide for the establishment of a code of conduct and a policy to address conflicts of interest.
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Principle 11
Governance ReviewThe plan administrator should conduct a regular review of its plan governance.