Draft Guideline on Communication with Pension Plan Members

CENTRAL BANK OF TRINIDAD & TOBAGO
Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 621-CBTT (2288), 235-CBTT (2288); Fax:(868)612-6396 E-Mail Address: info@central-bank. org. tt Website: www. central-bank. org. tt January 17, 2020 CIRCULAR LETTER TO:
PENSION PLAN TRUSTEES
MANAGEMENT COMMITTEES
PLAN SPONSORS REF: CB-OIFI-71,2020
DRAFT GUIDELINE ON COMMUNICATION WITH PENSION PLAN MEMBERS The Central Bank of Trinidad and Tobago ('Central Bank'/'Bank') has prepared a Guidelme on Communication with Pension Plan Members to assist Trustees and Plan Sponsors in providing greater transparency into the operations of pension plans to their membership m accordance with international best practices. The Central Bank's mandate includes ensuring that regulated entities are operated in a safe and sound manner. In this regard, the Bank has recognized that there is a need to promote the knowledge and understanding of pension plan operations and benefit entitlements among members. As such, the Guideline is meant to be used primarily as a tool by which Tmstees and Plan Sponsors can assess their operations and make adjustments where necessary to reflect minimum prudential standards. A soft copy of the Guideline is appended and can also be accessed at htt s://www. central-bank. or . tt/core-functions/su ervision/ ensions-sector/ ensions-sector￾circular-letters under the "Pensions Sector Draft and Consultation Papers" tab for review and feedback. Comments should be submitted electronically to PensionPlanCommunication central-bank.or .tt by Febmary 14, 2020. Queries on the Guideline should also be directed to the Central Bank via this e-mail address. The Bank looks forward to your timely feedback. Yours sincerely ^^ ^^ter^r^- Patrick Solomon INSPECTOR OF FINANCIAL INSTITUTIONS