Revised Instruction Guide for the Preparation of Actuarial Reports

OSFI has posted the revised Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans (Guide) on its website. This Guide updates the previous one published in October 2016. The revised Guide reflects recent amendments to the Pension Benefits Standards Regulations, 1985 that changed the maximum allowable amount of letters of credit and further clarifies OSFI’s disclosure expectations, in particular, with respect to plans with a defined contribution component, the mortality assumption, termination expenses, and the calculation of the average solvency ratio.