Asset Transfers related to Defined Benefit Provisions of Pension Plans

OSFI has issued a revised instruction guide for Asset Transfers related to Defined Benefit Provisions of Pension Plans and accompanying Approval Request Form, replacing the November 2010 versions. The revisions to the instruction guide include clearer information for multi-jurisdictional plans, clarifications regarding the remittance of normal cost and special payments after the effective date of the transfer, and additional information on what is meant by a material negative impact on the receiving plan. The revisions to the form include enhanced reporting regarding the transferring individuals.