Chief Actuary of Canada launches the review process for 32nd Actuarial Report on the Canada Pension Plan

Today, the Office of the Chief Actuary (OCA) is launching the peer review process for its next (32nd) Actuarial Report on the Canada Penson Plan (CPP). This important report provides a better understanding of the financial state of the CPP for all Canadians and is expected to be released in December 2025.

As part of this process, the OCA is seeking members for the external peer review panel. The external peer review ensures that the actuarial report meets high professional standards and is based on reasonable methods and assumptions.

Actuarial reports on the CPP are done every three years and are used by the federal and provincial Ministers of Finance when reviewing and making recommendations on the CPP. The first phase in this process is to seek applicants to create an external peer review panel.

The OCA is looking for individuals who are Fellows of the Canadian Institute of Actuaries (FCIAs), as well as possibly one other fully qualified actuary (equivalent to a Fellow of the CIA) who belongs to another actuarial association.

To apply, an application form must be submitted by July 18, 2025, at 11:59 p.m. (ET). Additional information on the independent peer review process and the terms of reference is available on the OCA’s website.

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Our triennial CPP Actuarial Report is foundational to our work and supports our mandate of preparing actuarial valuations of social security programs and Government of Canada pensions and insurance plans. External peer reviews of the CPP actuarial reports serve an important purpose, which is not only to improve the quality and credibility of our reports, but also to assure Canadians that we make all necessary efforts to address future uncertainties. We carefully consider all recommendations provided by such reviews, and we have implemented many of them over the years. We are confident that the upcoming independent review will bring new perspectives on ways to further improve the quality of our work and strengthen the independence of our office.