Proposed changes to Instruction Guide – Authorization of Amendments Reducing Benefits in Defined Benefit Pension Plans

OSFI is issuing proposed revisions to the Instruction Guide for Authorization of Amendments Reducing Benefits in Defined Benefit Pension Plans. There are no significant policy changes and the revisions to the instruction guide and accompanying form provide further details regarding OSFI’s current expectations for applications for authorization of a reducing amendment. The revised instruction guide is being issued in draft form so that stakeholders have the opportunity to provide input on these changes. Please see the memo to stakeholders for further information on the proposed revisions and consultation process.