Canada’s Office of the Superintendent of Financial Institutions, through the Office of the Chief Actuary, has appointed a three-member external panel to peer review the 32nd Actuarial Report on the Canada Pension Plan (CPP), with the United Kingdom Government Actuary’s Department (GAD) advising on the selection and providing an independent opinion on the peer reviewers’ work. The panel members are Stephen Butterfield, Iyad Hourani and Michel St-Germain, all Fellows of the Canadian Institute of Actuaries with experience in risk management, governance, funding, and pension and social security plan design. The CPP actuarial report is produced as part of the Chief Actuary’s statutory triennial financial review, and this will be the 10th external peer review of the CPP actuarial report since 1999. Tabling of the CPP actuarial report is expected before 31 December 2025, after which the panel will conduct its review and submit its report by the end of April. Once GAD issues its opinion, the Office of the Chief Actuary will publish both the panel report and GAD’s opinion on the Office of the Superintendent of Financial Institutions website.
Office of the Superintendent of Financial Institutions 2025-11-24
Office of the Superintendent of Financial Institutions appoints peer review panel for 32nd Canada Pension Plan Actuarial Report
Canada’s Office of the Superintendent of Financial Institutions has appointed a three-member external panel to review the 32nd Actuarial Report on the Canada Pension Plan, with the UK Government Actuary’s Department advising on the selection and providing an independent opinion. The panel consists of Stephen Butterfield, Iyad Hourani, and Michel St-Germain, all Fellows of the Canadian Institute of Actuaries. The review will follow the report's tabling, expected by 31 December 2025, with findings published subsequently.