Update on the FSC Committees March 2021

Workplace Savings Committee

At their first meeting of 2021, the committee agreed the 2021 workplan. Activities for 2021 focus on member engagement, training and regulation and include events for restricted schemes, more trustee training modules (the first four available here) and proactive regulatory engagement on issues specific to the workplace savings community.

Investment and KiwiSaver Committee

Solid work continues on a) the review of the KiwiSaver Early Withdrawal Guidelines and b) engaging with the FMA to obtain clarity on the KiwiSaver projection methodology.

*NEW* Health Committee

The FSC has created this Committee to focus on supporting great customer and patient outcomes.

*NEW* Sustainable Investing Working Group

Climate is becoming an increasingly important topic as members grapple with the introduction of climate reporting (which will be mandatory for some members for financial years starting in 2022), planning for net-zero transition for their businesses, and dealing with the FMA's increasing focus on responsible investing and other non-financial value-based disclosures (FMA calls this an "integrated financial system").

The FSC is initially responding by introducing a new FSC Sustainable Investment Working Group, which held its inaugural meeting in February. Its purpose is to focus on issues specific to sustainability and climate action that are relevant for members of the FSC. The group will initially support and report through to the FSC Investment and KiwiSaver Committee.