Meeting summary - October 8, 2025

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Standing Technical Advisory Committee for Defined Benefit Single Employer Pension Plans (SEPP)

Meeting summary

Date: October 8, 2025
Time: 2:00 – 3:30pm
Location: Hybrid

This summary sets out the key points discussed at the October 8, 2025 meeting.

General items

• The committee discussed communicating with plan members via their annual or biennial statements about the importance of staying in touch with the plan administrator to ensure plan members receive their pension benefit.
• The committee discussed with FSRA how filings and statements should be handled for the duration of the Canada Post strike. FSRA confirmed it will be applying a principles-based approach to timing.

FSRA updates

• FSRA is undertaking an internal data clean up initiative. More details will be available in the coming E-Blast.
• FSRA is planning for the 4th annual Pension Awareness Day campaign. Pension Awareness Day will be February 19, 2026. FSRA is beginning work with communications and other stakeholders.

Target Benefit Supervisory Framework

• FSRA updated the Committee on the consultation which closes October 14, 2025 for FSRA’s Target Benefit Supervisory Framework guidance.

International Monetary Fund report

• FSRA discussed the outcomes of the IMF’s recently published Financial Sector Assessment Program (FSAP) report. This report was the outcome of a review by the IMF of various aspects of FSRA’s pensions oversight. IMF’s 2025 FSAP was the first review of Canada’s pension sector stability and regulatory and supervisory regime.

Pension Benefits Guarantee Fund

• The Committee and FSRA discussed the annual PBGF Report, and the federal Pension Protection Act. The impact of supervision on pension plans registered and registering was discussed.

Defined Benefit Pension Plan Funding

• FSRA and the Committee discussed the Quarterly and Annual funding reports. The funded status of defined benefit pension plans continues to be healthy. Investment returns were positive, and single employer defined benefit pension plans in particular had good returns over 2024.

Surplus and wind-up website update

• The committee gave feedback to FSRA on the draft redesign of the surplus and wind-up website. The surplus sharing process and wind ups were discussed.

Next meeting

The next meeting of the committee is scheduled for Winter 2026.

Attendance record