Report on the Administration of the Supplementary Retirement Benefits Act for the Fiscal Year Ended March 31, 2025
Her Excellency the Right Honourable Mary Simon, C.C., C.M.M., C.O.M., O.Q., C.D.,
Governor General and Commander-in-Chief of Canada
Excellency:
I have the honour of submitting to Your Excellency the Report on the Administration of the Supplementary Retirement Benefits Act for the Fiscal Year Ended March 31, 2025.
Respectfully,
Original signed by
The Honourable Shafqat Ali, P.C., M.P.
President of the Treasury Board
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About this report
This report provides information on the administration of the Supplementary Retirement Benefits Act (SRBA) for the fiscal year ended March 31, 2025. It includes an account transaction statement, as well as information about benefits, contributions, and membership.
The report is tabled in Parliament each year, in accordance with section 12 of the SRBA.
About the act
The SRBA applies to pension benefits payable to federal judges under the Judges Act, as well as to pension benefits payable under other statutes listed in Schedule I of the SRBA, such as the Diplomatic Service (Special) Superannuation Act, the Lieutenant Governors Superannuation Act, the Defence Services Pension Continuation Act, the Royal Canadian Mounted Police Pension Continuation Act, and Part VI of the Members of Parliament Retiring Allowances Act.
The SRBA, along with the relevant pension statutes, governs the benefit index of the major federal public sector pension plans, including plans governed by the Public Service Superannuation Act, the Canadian Forces Superannuation Act, the Royal Canadian Mounted Police Superannuation Act and the Members of Parliament Retiring Allowances Act.
Funding
Members contribute 1% of their pensionable salary to the Supplementary Retirement Benefits Account. The Government of Canada, as the employer, matches plan members’ contributions.
Interest on the account is payable at the end of each quarter. It is calculated monthly on the minimum balance in the account at an interest rate that represents the yield on Government of Canada bonds that have a term to maturity of 5 years, reduced by 0.125%.
Fiscal year highlights
Plan benefits and contributions
| Plan member and employer contributions | $9.7 million |
|---|---|
| Account balance at fiscal year end | $335.8 million |
| Net benefit paid from the Supplementary Retirement Benefits Account | $17,906 |
Membership demographics
| Active contributors | 1,265 |
|---|---|
| Retired members and survivors | 1,383 |
| Total membership | 2,648 |
Account transaction statement
Supplementary Retirement Benefits Account statement
| Judges | Others | Total | |
|---|---|---|---|
| Opening balance | 314,919 | 1,324 | 316,242 |
| Receipts and other credits | |||
Plan member contributions |
4,810 | 53 | 4,863 |
Government contributions |
4,802 | 53 | 4,855 |
Interest |
9,772 | 43 | 9,816 |
| Total receipts | 19,385 | 150 | 19,534 |
| PaymentsFootnote 2 and other charges | |||
Annuities |
48,888 | 4,368 | 53,257 |
Less charges to Consolidated Revenue Fund in accordance with subsection 8(2) of the SRBA |
48,888 | 4,350 | 53,239 |
| Net benefit payments | 0 | 18 | 18 |
| Closing balance | 334,303 | 1,455 | 335,759 |
Further information
For additional information on the SRBA, refer to the following reports:
© His Majesty the King in Right of Canada, represented by the President of the Treasury Board, 2026
ISSN: 1489-4866