Pension plans

Ontario Pension Plans – 2025 Overview

Over 2025, we have closely followed developments related to Ontario pension plans, particularly those involving the Financial Services Regulatory Authority of Ontario (FSRA) and Ontario’s Ministry of Finance. Below is an overview of publications and FSRA activities throughout 2025.

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Pension plans

Adoption of regulations for the implementation of dynamic pensions in Quebec

On December 17, 2025, the Quebec government adopted the Regulation to amend the Regulation respecting supplemental pension plans and the Regulation to amend the Regulation respecting voluntary retirement savings plans. The purpose of these regulations is to allow defined contribution plans and voluntary retirement savings plans (VRSPs) to implement dynamic pension funds, also known as variable payment life annuities (VPLAs).

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Group benefits Pension plans

The 2025 federal budget

The federal budget released on November 4, 2025 contains certain measures that could impact your organization or business context. Based on the available information, our experts have identified a few items that directly or indirectly affect components of total rewards.

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