The concept of pension plan governance is commonly defined by pension authorities as the structures and processes for overseeing, managing and administering a pension plan to ensure all obligations of the plan are met.
At CMHC, the pension governance structure and related practices evolve over time as opportunities are taken to enhance the governance of CMHC's Registered Pension Plan and its Fund. The Pension Plan Governance Guidelines, issued in 2004 by the Canadian Association of Pension Supervisory Authorities (CAPSA, of which OSFI is a member), serve as a key reference for pension governance at CMHC. A formal review of CMHC's governance practices is conducted on a regular basis.
The following describes CMHC's governance objectives and practices, the governance structure, and the roles of the participants in the governance structure, as they relate to CMHC's Registered Pension Plan and its Fund.