The Office of the Superintendent of Financial Institutions published the Office of the Chief Actuary’s release of an independent peer review of the 32nd Actuarial Report on the Canada Pension Plan. The three-actuary panel concluded that the report complied with statutory requirements and all relevant professional standards of practice, and that its methods and assumptions were reasonable. It also found that the Chief Actuary and Office of the Chief Actuary staff acted with competence in preparing the report and follow-up work. The panel made six recommendations to improve future Canada Pension Plan actuarial reports. These focus on stronger earnings and migration data, including better identification of non-permanent residents, further analysis of labour force participation at older ages, expanded review of earnings distribution trends as the additional Canada Pension Plan matures, more disclosure of sensitivities and scenarios that could pressure statutory contribution rates, and continued development of climate-change-related scenarios and their potential financial effects. It also provided broader observations and suggestions to support monitoring of demographic, economic, investment and socio-economic risks relevant to the Canada Pension Plan’s long-term sustainability.
Office of the Superintendent of Financial Institutions2026-07-03
Office of the Superintendent of Financial Institutions publishes independent review finding 32nd Canada Pension Plan actuarial report met requirements and making six recommendations
The Office of the Superintendent of Financial Institutions published an independent review of the 32nd Actuarial Report on the Canada Pension Plan that found the report met statutory and professional standards and used reasonable methods and assumptions. The review also made six recommendations to deepen future analysis, including on migration and earnings data, older-age workforce participation, contribution-rate stress scenarios and climate-related financial impacts.