Governance is an important concept in pension plans. In broad terms, governance is the structure and processes used to oversee, manage, and administer a pension plan in accordance with legislation and in the best interest of Plan members.
The Public Employees Pension Board has established a review process to regularly assess its governance practices (governance self-assessment).
Public Employees Pension Plan (PEPP)
Governance Self-Assessment Questionnaire
The PEPP Governance Self-Assessment Questionnaire is modeled on (and reflects) principles in the Canadian Association of Pension Supervisory Authorities’ Pension Plan Governance Guidelines and Self Assessment Questionnaire. Responses to the questions are intended to be thorough and analytical to reflect the current situation of the Plan, thus pointing out areas that require improvement.
This questionnaire is completed each year by a person who possesses the best knowledge of the answer to each question, and is approved by the Chairperson of the Board after due consultation with the Board.
Code of Conduct and Conflict of Interest Procedures
To aid it in its governance of the Plan, the Public Employees Pension Board has adopted a code of conduct and conflict of interest procedures.
The guidelines and procedures ensure that Board members have a full understanding of the Board’s principles and values, and they assist Board members in determining appropriate business practices and behaviour. They are intended to assist Board members to maintain the independence and integrity necessary for them to fulfill their obligations to the members of the Plan.
The Board reviews these requirements annually. All Board members sign the document at least once each year to confirm their intention to comply with the requirements.
PEBA will respond to all inquiries or concerns related to the administration of the Public Employees Pension Plan. If a complaint cannot be resolved through PEBA, a procedure exists to have concerns heard by the Public Employees Pension Board. Details of this procedure may be obtained by following this link …PEPP Complaint Process