Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions (OSFI) is issuing the final version of the Instruction Guide for the Termination of a Defined Benefit Pension Plan (the Instruction Guide). The Instruction Guide sets out the filing and reporting requirements for a defined benefit pension plan that has terminated, in whole or in part, under the
Pension Benefits Standards Act, 1985. These requirements also apply to plans with both a defined benefit and a defined contribution component.
OSFI issued a revised draft Instruction Guide for consultation on January 20, 2020. The consultation was suspended on March 13, 2020 because of COVID-19 but resumed on November 2, 2020 for a four-week period. OSFI did not receive any questions or comments in either consultation period.
The following changes were made to the Instruction Guide since the draft version was first issued:
Questions and comments concerning these changes or any of OSFI’s other requirements or expectations set out in the Instruction Guide may be sent to
Tamara DeMos Managing Director Private Pension Plans Division