So the 2013 Bank of Canada Annual Report says:
Work on the next series of bank notes is already under way, beginning with a review of the process that the Bank follows to formulate recommendations for new bank notes, which will take place in the first half of 2014.
Any guesses if they will change the visual design of it or will they just focus on security features only.
Other countries such as Australia and New Zealand are also underway with the next series but do not expect to have major design changes.
The BoC had an ad for a Project Manager which indicated that this could be a 3 year project.
Here is a brief from that ad:
The Project Manager (PM) will be responsible for managing a three-year project to develop a new bank note, which will involve significant coordination with a broad range of internal and external stakeholders, suppliers and service providers. The PM will manage the project through major phases and activities, such as visual content research and development, technical design and testing, transition to operations and distribution, contracting and procurement, communications and publicity.
