Effective plan governance is essential in order for the Public Employees Benefits Agency and the Committee members to fulfil their fiduciary responsibilities. It aids the Minister of Finance in meeting responsibilities to the Plan's participating employers and employees.
The governance process needs to be clear and specific about goals, priorities, and expectations. A governance policy has been developed in order to document the governance process.
As part of the ongoing articulation and implementation of the governance principles contained in the governance policy, the governance process is reviewed at least annually and modified as required.
Code of Conduct Guidelines
To aid it in its governance of the Plan, the DSLP Committee has adopted code of conduct guidelines.
The guidelines ensure that Committee members have a full understanding of the Committee's principles and values, and they assist Committee members in determining appropriate business practices and behaviour. They are intended to assist Committee members to maintain the independence and integrity necessary for them to fulfil their obligations to the members of the Plan.
The Committee reviews these requirements annually. All Committee members sign the document at least once each year to confirm their intention to comply with the requirements.