- Type of Publication: Instruction Guide
- Date: January 2018
The purpose of this 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 completing the Solvency Information Return (SIR) that is required to be filed 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 (PBSR), the Directives of The Superintendent Pursuant To The Pension Benefits Standards Act, 1985 (the Directives), or any guidelines that OSFI has issued or may issue regarding the administration of pension plans subject to the PBSA.
Who Must File
The administrator of a pension plan with defined benefit provisions registered or having filed an application for registration under the PBSA, or its agent, must file the SIR.
Filing Due Date
OSFI expects the SIR to be submitted annually, before February 15 or within 45 days after the plan year end to which it relates, if later.
The administrator of a pension plan must submit the SIR using the Regulatory Reporting System (RRS). The SIR is completed by entering the information directly into the on-line web form in RRS.
For further information on how to file returns using RRS, please consult the Manage Financial Returns User Guide for Insurance Companies and Private Pension Plans and other RRS training material available on the OSFI website. RRS training material can also be found in RRS in the Documents folder under Training and Support.
Solvency Information Return
Line 005 - Plan year end
Enter the end date of the period covered by the SIR, which is usually the plan year. A change in plan year end will result in a SIR that covers a period of less than 12 months.
Line 012 – Contribution holiday
Select “Yes” or “No” to indicate whether a contribution holiday was taken during the plan year.
Line 013 – Number of months and amount of contribution holiday
If “Yes” has been selected on line 012, enter the estimated number of months during the plan year for which no contribution was made (first column) and enter in thousands of dollars the amount of surplus or previous years’ additional payments used to satisfy funding requirements for the plan year (second column).
Line 016 – Rates of return
Enter in percentage format (2 decimal places) the annual rate of return earned on pension fund assets during the plan year in respect of defined benefit provisions of the plan (first column), and defined contribution provisions of the plan (second column), if applicable. The annual rate of return should be net of all investment and custodial fees.
For further information, please visit the OSFI website or contact us at:
Office of the Superintendent of Financial Institutions
255 Albert Street
Telephone: (613) 991-0609