On March 1, 2019, the Joint Governance of Public Sector Pension Plans Act established the SFPP Corporation as the trustee of the plan fund and administrator of SFPP. SFPP Corporation oversees all administrative functions of the Plan, such as the Plan Fund and investment of assets, appointing the auditor, arranging for external service providers, preparing the annual budget, and more.
The Corporation is governed by a Board of Directors. The board members are nominated by the Plan’s sponsors and are appointed by Government.
The Sponsor Board is responsible for plan design and funding risk appetite. The Sponsor Board is supported by SFPP Corporation.
Both Boards are guided by policies that outline roles and responsibilities, rules of ethical conduct, information sharing, protection of privacy, and investment guidelines.