Proposed Pension Fee Review Updates

BCFSA is seeking feedback on a proposed Pensions Fee Review Discussion Paper which outlines proposed changes to pensions fees following a comprehensive review.

The review found that while pensions fee revenues have remained relatively unchanged since 2020, the costs associated with regulating pension plans have increased over time.

BCFSA is proposing changes that would maintain the existing member-based fee model while updating fee amounts and thresholds to:

• support sustainable cost recovery
• better align fees with regulatory activities and oversight costs
• promote a fair allocation of regulatory costs across pension plans

Feedback received during the engagement will help inform final recommendations to government proposed pensions fee changes.

Any proposed fee change would remain subject to the applicable government approval process.

The consultation opens on September 16 and closes on October 16, 2026.

How to participate

BCFSA welcomes feedback from pension plan administrators, plan sponsors, industry associations, professional advisors, and other interested parties.

You can provide feedback by:

• Completing the Feedback Form

• Emailing engage@bcfsa.ca

Engagement materials

• Proposed Pensions Fee Review Discussion Paper
• Feedback Form

Participation in the engagement is voluntary. BCFSA will publish a summary of the feedback received and will not attribute comments to individual respondents. Please note that individual, non-anonymized submissions may be shared with the Ministry of Finance. Any fee changes resulting from this process would be subject to further industry engagement, BCFSA recommendations, and government approval before implementation.