September 28, 2026
PSAB Decision Summary – September 28-29, 2026
The Board approved the Employee Benefits Non-Traditional Pension Plans Monitoring project. The project will monitor how entities participating in non-traditional pension plans are implementing Section PS 3251, Employee Benefits, and use the findings to inform any future standard-setting activities.
October 18, 2023
PSAB Decision Summary – September 28-29, 2023
PSAB discussed feedback on the proposed discount rate guidance in the Exposure Draft “Employee Benefits, Proposed Section 3251 ” and considered options to simplify the assessment of a plan’s funding status.
A revised version of the standard is likely to be presented for the Board’s approval in March 2024. To align with PSAB’s Standard-Setting Due Process Manual, if the Board concludes significant changes have been made to the guidance proposed in the exposure draft, re-exposure of the revised standard may be required. This decision will be made at a future meeting.
April 25, 2023
PSAB Decision Summary – March 30-31, 2023
PSAB provided further feedback on the analysis of the responses to the July 2021 Exposure Draft, “Employee Benefits, Proposed Section 3251.” The Board provided its feedback on technical and other topics of the project’s first phase, including:
- Category-wide plans
- Sufficient information
The Board supported amending the project timelines. Further discussion on the revised timeline for the project will occur at a future meeting.
October 20, 2022
PSAB Decision Summary – September 28-29, 2022
Employee Benefits
PSAB provided further feedback on the analysis of the responses to the July 2021 Exposure Draft, “Employee Benefits, Proposed Section 3251.” The Board provided its feedback on other topics of the project’s first phase, including:
- recognition and presentation of remeasurement gains and losses and the scope;
- definitions; and
- terminology in the proposed standard.
The Board plans to continue its discussion of the Exposure Draft and timelines for the project at its December meeting.
April 7, 2021
PSAB Decision Summary – March 25, 2021
After extensive deliberation, PSAB approved the Exposure Draft, “Employee Benefits, Proposed Section PS 3251,” and the accompanying Basis for Conclusions, which sets out the Board’s reasoning for the proposals. The Board expects to issue the document in July 2021, with comments due in November 2021.
This Exposure Draft outlines the proposed principles for the first of several phases of PSAB’s revised employee benefits standard. The proposed Section will replace existing Sections PS 3250 and PS 3255.
All stakeholders are encouraged to provide feedback on these proposals once they are issued in July. Staff will conduct extensive outreach, including on Connect.FRASCanada.ca, the new online community platform that makes providing feedback easier.
December 10, 2020
PSAB Decision Summary – December 10, 2020
PSAB discussed and provided feedback on the first release of an exposure draft for the employment benefits standard. The Board plans to approve the exposure draft for comment at its March 2021 meeting.
September 28, 2020
PSAB Decision Summary – September 28, 2020
PSAB discussed the first draft of the employment benefits standard and gave feedback for developing of the exposure draft. The Board will continue to discuss the core topics in upcoming meetings.
September 27, 2019
PSAB Decision Summary – September 26-27, 2019
PSAB received a summary of responses to the three invitations to comment and the Task Force’s deliberations of the key issues. The Board provided feedback to the Task Force for considerations.
June 20, 2019
PSAB Decision Summary – June 20-21, 2019
PSAB received an update on the Employment Benefits project and provided feedback on the Task Force’s work on key issues covered in the Invitations to Comment:
- “Employment Benefits: Deferral Provisions in Sections PS 3250 and PS 3255” issued in November 2016; and
- “Employment Benefits: Discount Rate Guidance in Section PS 3250” issued in November 2017.
PSAB also considered the nature and scope of the project’s next due process document, based on stakeholders’ feedback. The Board agreed that an exposure draft would provide stakeholders with a complete picture of the proposed standard, including application guidance and illustrative examples.
PSAB will be provided with an update on key issues covered in the Invitation to Comment, “Employment Benefits: Non-Traditional Pension Plans” issued in October 2018, at its September 2019 meeting.