Meeting summary - March 5, 2026

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Standing Technical Advisory Committee for Public Sector Pension Plans (PSPP)

Meeting summary

Date: March 5, 2026
Time: 10:30 a.m. – 12:00 p.m.
Location: Hybrid

This summary sets out the key points discussed at the March 5, 2026, meeting.

General items

The committee welcomed new members David Au and Claire Woodcock. The group engaged in a general discussion regarding ongoing operational matters, broad administrative considerations, and emerging areas of focus across the sector. Members also provided high level updates on guidance, forms, and upcoming pension related communications and events.

FSRA updates

FSRA has launched a data clean-up initiative to strengthen the Pension Services Portal (PSP) and improve the accuracy of plan information. FSRA requests pension plan administrators to review and update key plan and contact details in PSP ahead of the next AIR filing cycle to ensure timely, complete, and accurate submissions.

Guidance updates

FSRA provided an overview of progress in this cycle of guidance reviews. Documents summarizing recommendations or updates will be provided to the TAC for consideration. FSRA communicated that Family Law forms have been updated to reflect Target Benefits as a benefit type.

Communications and engagement update

Pension Awareness Day activities, and planning for FSRA Exchange in May 2026, were discussed.

CAPSA updates

Updates were provided on the revised Administrative Procedures document supporting the 2020 Agreement Respecting Multi-jurisdictional Pension Plans, published on the website of the Canadian Association of Pension Supervisory Authorities (CAPSA) in December 2025. Updates were also provided on current CAPSA actuarial initiatives, including ongoing work related to mortality scales. The Committee also received an overview of continued coordination among CAPSA, the Canadian Institute of Actuaries (CIA), and the Actuarial Standards Committee on broader policy and guidance initiatives, including those related to Variable Pension Life Annuities (VPLAs) and climate related regulatory considerations. A general update was also provided on the monitoring of asset transfers and pension plan windups across jurisdictions, along with efforts to support consistency in administrative processes.

Regulatory and enforcement issues

The committee reviewed recent non‑remittance enforcement actions, the issuance of NOIDs, and considerations for stronger diligence and enforcement consistency.

Retroactive Adverse Amendments

The committee discussed FSRA’s ongoing work related to Retroactive Adverse Amendments. FSRA released its first Retroactive Adverse Amendment report in June 2025, summarizing determinations made as of March 31, 2025. A second report is currently in development and will provide updates through December 31, 2025. The committee reviewed the implications of these findings for plan sponsors, administrators, and member communications, as well as potential considerations for future compliance oversight.

Next meeting

The next meeting of the Committee is scheduled for Summer 2026.

Attendance record