In 2026, the Canadian Institute of Actuaries will continue to focus on the impact of climate risk on several areas, including pension investments, says Angelita Graham, a partner at Mercer Canada and president of the CIA.

Last year, the organization began working with Université du Québec à Montréal for its research chair in actuarial and climate sciences, an initiative designed to improve understanding of the financial impacts of climate change and to help society adapt.

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“It’s an area that’s really going to support public policy decision around some of the climate risk that’s happening [and will] provide actuaries with the tools in terms of risk modeling and analyzing climate change. . . . It’s obviously going to impact the liability side as well as the investment side of things.”

The CIA will also continue its work on how variable payment life annuities will impact actuaries, as more jurisdictions adopt legislation around VPLAs.

In December, Quebec formally adopted legislation that allows plan sponsors offer the option, including conditions related to plan design, valuation and administration. In November, Ontario announced it’s developing a legislative framework that would permit VPLAs to be offered from pooled registered pension plans, defined contribution pension plans and pension plans that provide for additional voluntary contributions.

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Similarly, the organization continues to monitor developments in target-benefit pension legislation, such as in Ontario.

This year, the organization will also publish an updated mortality table following research into the impact of gender identity on longevity risk.

The growth of artificial intelligence is also on the CIA’s radar in 2026 and beyond, says Graham. “Like everyone else, we’re trying to navigate [AI] and as we think about the future, it’s really about making sure we continue to be fit for purpose and that we are giving our actuaries the tools required to be able to function in this rapidly changing world.”

Read: What’s the impact of gender identity in determining longevity risk?