Filing Pension Plan Amendments using the Regulatory Reporting System (RRS)

• Type of publication: Instruction Guide
• Date: May 2022

General

The purpose of this instruction guide (the Guide) is to assist administrators of pension plans registered or having filed an application for registration under the Pension Benefits Standards Act, 1985 (PBSA) in filing plan amendments with the Office of the Superintendent of Financial Institutions (OSFI).

The Guide does not supersede the requirements of the PBSA, the Pension Benefits Standards Regulations, 1985 (the Regulations), the Directives of The Superintendent Pursuant To The Pension Benefits Standards Act, 1985 (the Directives), or any related guidelines that OSFI has issued or may issue.

Who Must File

The administrator of a pension plan registered or having filed an application for registration under the PBSA must file with OSFI any amendment to a plan text or other document that creates or supports the plan along with a signed declaration that the plan, as amended, complies with the PBSA and the Regulations.

Filing Due Date

The amendment and declaration must be filed with OSFI within 60 days after it is made.

Filing Requirements

The administrator must file all regular amendments (and all other relevant documents) using the Regulatory Reporting System (RRS).

Plan Amendment Return - RRS Process

Creating a Plan Amendment Return in RRS

To file an amendment, the administrator must first create a Plan Amendment Return in RRS.

1. In the Main Menu, hover over Manage Returns and select Create Return.

2. Under Return Name write “Plan Amendment – No. XX (if applicable) – YYYY-MM-DD” the effective date of the amendment or amendments (if more that one). For example:

   • “Plan Amendment – No. 04 – 2021-01-01” or;

   • “Plan Amendment – 2020-11-15”.

3. Under Select Form Set, choose PP1 – Plan Amendment Submission Form.

4. Under Enter earliest effective date of change contained in the return, enter the earliest effective date of the amendment or amendments. Amendments must have the same effective date if they are to be submitted in one return (i.e. a board resolution with multiple amendments effective the same day). If amendments have different effective dates, please submit a separate return for each.

5. Click Create – the return will appear in the Draft Returns section found in the main menu.

For more information on creating returns in RRS, please consult the Manage Corporate Returns User Guide and other RRS training materials. RRS training materials can also be found in RRS in the Documents folder under Training and Support.

Completing the Plan Amendment Return in RRS

Once in the Draft Returns tab, the administrator will be able to edit the content of the return by entering the information directly into the on-line web form. Select the name of the return that was just created. Select Edit. The information and documentation for the amendment can now be entered.

• Line 1 – Enter the effective date of the amendment (or amendments if submitting more than one with the same effective date) using the following format YYYY-MM-DD.

• Line 2 – Enter the amendment number (if applicable). If there is no amendment number, leave blank.

• Line 3 – Select “Yes” or “No” to indicate the response to each question.

Additional Required Documents

Lines 4 through 6 require the administrator to upload documents. Do not use the characters “#” or “&” in the names of any uploaded documents.

• Line 4 – Complete and upload either the OSFI 593: Defined Contribution Pension Plan Amendment Information Form or the OSFI 594: Defined Benefit/Combination Pension Plan Amendment Information Form. The forms are also available on the OSFI website in the Applications and Approvals.

• Line 5 – Upload the amendment and/or the amended document (i.e. plan text, trust agreement, custodial agreement, collective agreement).

• Line 6 – Upload the board resolution/authorization of the amendment (if not included in another uploaded document) and any other document relevant to the amendment. If there is more than one other document, please upload them in a zip file.

As with other returns in the Draft Returns section, you can save this return in draft form until it is fully completed and ready to submit.

Submission of Plan Amendment Return

Once a return is ready to submit, go to the Submit Return sub-menu in the Submission section (found in the main menu). Select the Submit link in the Action column for the appropriate return.

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