The Toronto Fire Department Superannuation and Benefit Fund is a financial trust and special purpose body that manages and controls the pension fund to ensure that it is administered in accordance with regulatory requirements and the By-laws of the fund.

Committee Responsibilities

The committee is responsible for:

• custody of the fund, including the investment of monies according to the requirements of the Pension Benefits Act, the Income Tax Act, and regulations
• payment of pension benefits to members when they are eligible
• keeping proper and correct accounts of all receipts and disbursements to the satisfaction of the fund's auditor

Committee Composition

The committee consists of 7 members and is composed of:

• 1 public member appointed by City Council (traditionally appointed as Chair by the committee)
• 3 representatives of the Toronto Fire Department Pensioners’ Association
• City Manager designate
• Chief Financial Officer & Treasurer designate
• Controller & Chief Accountant designate

Term of Office

City Council's public member is appointed for four years.

Qualifications

The public member shall not be a current or former member of the Superannuation and Benefit Fund.

In addition to the general eligibility requirements in the Public Appointments Policy, the public member should possess:

• demonstrated experience in pension fund investment management and financial matters
• knowledge of pension legislation and defined benefit plans
• sound judgement
• knowledge of rules of procedure and ability to chair meetings
• flexible schedule to permit attendance at committee meetings and meetings with fund managers and advisors

Meeting and Time Commitment

The committee meets approximately five times a year during the day, either virtually or in person at City Hall.

Remuneration

The Chair receives an annual retainer of $15,000.