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The BPA Financial Group of Companies is very aware of all obligations to the
Trust Funds as stipulated under the Labour Relations
Act, the Provincial Pension Benefits Acts, the Office of
the Superintendents of Financial Institutions and the
Income Tax Act. Duties such as filing audited
statements, or providing proper benefits communication
to the membership or submitting annual information
reports are performed automatically by our staff. Our
philosophy is that we are aware of our obligation under
all legislation and can assure the Trustees that this
obligation will be performed without having to be
instructed to do so.
Our first obligation is to protect the interests of the
Trust Fund's beneficiaries. This encompasses maximizing
services for dollars spent, operating within the
boundaries of an acceptable Administration Agreement,
accurate record-keeping, and acceptable communication of
information. The Trustees select an Administrator to
execute their fiduciary responsibility in this regard.
The Administrator, in turn, must be prepared to advise
the Trustees on the selection of services and ensure
that they are delivered efficiently. In the execution of
their duties, including the selection of their
professionals, the Trustees must act as "prudent men" as
defined by English Common Law. A Trustee basically must
conduct himself faithfully and exercise sound
discretion. It is the Administrator's duty to provide
knowledgeable and sound guidance to the Trustees in
order to assist them to fulfill their obligations. The
Administrator must protect the interests of the Trustees
by guiding their business in ways that would avoid the
increasing chances of either damaging criticism or
litigation. |
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