November 4, 2025

ACAW Pension Fund Governance Update

Recently, the Alberta Superintendent of Pension’s Office, who is responsible for the oversight of Alberta registered pension plans, became aware of certain governance issues with respect to the Board of Trustees of the ACAW Pension Plan that would result in the Board not being able to perform their duties.

As well, this past year, the Superintendent’s office conducted a review of the Plan that resulted in an action plan that the Board was required to address. The Board undertook to address the items within the specified timelines required by the Superintendent’s office, While significant progress was made by the Board, one of the outstanding items was the replacement of Board members who failed to meet the trustee eligibility requirements of the Plan. That action was not completed by the Board within the time required by the Superintendent of Pensions, and as a result the Superintendent determined it was in the best interest of plan members to remove the Board and appoint a Temporary Administrator, Haripaul Pannu, Deputy Superintendent of Pensions, to oversee the Pension Plan until an appropriately appointed Board can be formed in accordance with Plan documents and the requirements of pension legislation.

While this process is being implemented, there are no changes to members’ pension benefits, contributions to the Pension Plan, or members’ coverage under the Pension Plan. The ACAW Pension Plan remains fully operational, and member services are continuing as normal.

We understand that members have questions. Please be assured that the steps currently being taken are to safeguard the long-term operation of the ACAW Pension Plan and to maintain the fiduciary standards required of all registered pension plans in Alberta.

Members can continue to contact the ACAW Benefit Plans’ office for support with any pension plan inquiries.