Registered Pension Plan Annual Report
Terms of Reference
Governance
The Bank of Canada Pension Plan is a defined benefit plan covering over 3,500 members. The Bank is the administrator of the Plan and oversight is conferred on a Pension Committee. Day-to-day administration is conducted by a Pension Fund Investment Committee and by a Pension Administration Committee.
The Pension Plan Director works closely with the Chair of each committee and with other staff members to develop and implement the governance framework which includes: the establishment of strategic objectives; the development of clear policies in all aspects of Plan administration; the assessment and monitoring of risks; the establishment and monitoring of performance objectives; the monitoring of compliance with regulations and policies; and the conduct of periodic self-assessments of the performance of the Pension Committee.