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 is governed by a board of directors appointed by the Plan’s sponsor organizations.
The Sponsor Board is responsible for plan design and funding risk appetite.
SFPP Corporation is the trustee of the Plan and 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 Corporate Board governs SFPP Corporation.
The two Boards are supported by a corporate management team that assists with all operational aspects of 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. The SFPP Corporation section provides an overview of the people and processes that ensure the Plan is operating efficiently and effectively now and into the future.
Under the Joint Governance of Public Sector Pension Plans Act, SFPP must continue to use the service providers APS (pension administration services) and AIMCo (investment management services) until 2024, after which SFPP can choose to enter into agreements with other service providers.