Municipal Employees' Pension Plan Governance
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.
Municipal Employees' Pension Plan Governance Self-Assessment Questionnaire
The Municipal Employees' Pension Commission has established a review process to regularly assess its governance practices (governance self-assessment). The MEPP Governance Self-Assessment Questionnaire is modelled 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 Commission after due consultation with the Commission.
Code of Conduct and Conflict of Interest Procedures
To aid it in its governance of the Plan, the Municipal Employees’ Pension Commission has adopted a code of conduct and conflict of interest procedures.
The guidelines and procedures ensure that Commission members have a full understanding of the Commission’s principles and values, and they assist Commission members in determining appropriate business practices and behavior. They are intended to assist Commission members to maintain the independence and integrity necessary for them to their obligations to the members of the Plan.
The Commission reviews these requirements annually. All Commission members sign the document at least once each year to confirm their intention to comply with the requirements.
Strategic Business Plan
The strategic business plan was developed as part of the Commission's comprehensive governance process, which includes regular strategic business planning and risk management planning. It was developed within the context of the Plan's purpose, mission and goals and the Commission's values of accountability, professionalism, integrity and fairness. The new strategic business plan considers a number of internal and external factors.
Municipal Employees’ Pension Commission Governance Manual
An effective pension governance system:
- establishes a framework for defining the duties, associated responsibilities and accountabilities for all participants in the governance process;
- covers all facets of pension plan management, including communication, funding, investments and benefit administration; and
- provides careful oversight while enhancing protection for plan members and beneficiaries.
- The Governance Manual is subject to regular review by the Commission to ensure it is comprehensive and effective.
PEBA will respond to all inquiries or concerns related to the administration of the Municipal Employees' Pension Plan. If a complaint cannot be resolved through PEBA, a procedure exists to have concerns heard by the Municipal Employees' Pension Commission. Details of this procedure may be obtained by following this link …MEPP Complaint Process