Asset Transfers (Defined Benefit Plans)

An asset transfer occurs when all or any part of the assets of a pension plan are transferred to another pension plan. This can occur between pension plans with different employers and between pension plans established for the same employer. Administrator's must obtain the Superintendent's permission prior to the transfer of any part of the assets of a pension plan that relate to defined benefit provisions to another pension plan. Transfers made as a result of a portability option under section 26 of the PBSA do not require the Superintendent's permission.

An asset transfer from a pension plan can occur for a number of reasons including a sale or other transfer of business, a merger or amalgamation as part of a business rearrangement of pension plans or as a result of a transfer of individual members between plans.

Publications

Type Title Year
Instruction Guide Asset Transfers Related to Defined Benefit Provisions of Pension Plans 2018
Form Asset Transfers Related to DB Provisions of Pension Plans (PDF, 2.15 MB) 2018
InfoPensions Newsletter Electronic Filing of Documents with OSFI 2016
InfoPensions Newsletter Asset Transfers 2015
Guidance Custodial Transfers within a Pension Fund 2009