The Financial and Consumer Services Commission of New Brunswick (the Commission) is seeking pension industry stakeholders to serve as part of a technical working group on a proposed defined contribution decumulation framework.
New Brunswick defined contribution (DC) pension plan members have few options for the decumulation phase of their retirement journey. Industry stakeholders are asking for policy changes that support additional decumulation options.
The Commission has performed a preliminary analysis and developed a discussion paper. Technical working group members will be expected to provide comments to this paper based on their experience to date, identify issues and assist the Commission in developing a proposed decumulation framework for DC plan members.
Required expertise
Candidates should be seasoned professionals within their organization or field, capable of articulating their organization’s or profession’s perspectives on pertinent matters. They should possess substantial expertise dealing with the administration, design, investments and/or member engagement strategy for DC pension plans and reflect one or more of the following segments within the pension sector:
- Union representatives who have experience with DC plans;
- Representatives of DC plan members, former members and retired members;
- Representatives of employers that sponsor DC plans;
- Representatives of multi-employer DC plan administrators;
- Investment professionals that either manage DC plan assets or provide financial and investment advice to DC plan members;
- Pension lawyers, advisors, actuaries and other specialists in the DC pension field; or
- Insurance or other financial companies that provide DC plan administrative services, investment management services and / or sell life annuities.
Time commitment
The anticipated time commitment is approximately nine hours, with one three-hour meeting per month for three months. Technical working group members are expected to participate in all meetings. The first meeting will take place in the fall of 2025. Meeting length and frequency may be adjusted based on group progress and member input, to ensure the process remains collaborative and responsive to the needs of both members and the Commission.
To support relationship building and collaborative discussion, in-person meetings are preferred. Depending on the composition and geographic location of working group members, meetings may be held in a hybrid or virtual format, or specific individuals may be permitted to attend virtually.
Membership in the technical working group is unpaid. Members participating at meetings in person may be reimbursed reasonable travel expenses in accordance with Commission policies.
The technical working group is advisory in nature and not an advocacy forum. The Commission will consider any input received but it may or may not result in action or policy change. Any input and insights must be given in good faith.
Application process
If you are an industry stakeholder interested in participating as a member of the technical working group, please:
- Read the Terms of Reference
- Complete an application form no later than October 31, 2025
For more information:
Pensions Division
Financial and Consumer Services Commission of New Brunswick
225 King Steet, Suite 200
Fredericton, NB E3B 1E1
Toll-Free: 1-866-933-2222
Email: pensions-retraite@fcnb.ca