OSFI issues a revised instruction guide for actuarial reports
News release - Ottawa -
We have archived this page and will not be updating it.
You can use it for research or reference.
The Office of the Superintendent of Financial Institutions Canada (OSFI) today released a revised Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans (Guide). The Guide sets out the reporting requirements of actuarial reports filed with OSFI for private pension plans with defined benefit provisions. The Guide updates the previous version, published in December 2015, to reflect the following:
- The maximum going concern discount rate is modified to 6.00%.
- The quality of fixed-income investments to be used in the establishment of a replicating portfolio is defined.
- Additional disclosure is required with respect to termination expenses.
- Clarifications on required contributions for funding Designated Plans are provided.
The revised Guide applies to actuarial reports with a valuation date on and after October 31, 2016. Early adoption is permitted. From time to time, OSFI may require additional information not mentioned in the Guide. Actuarial reports should be prepared in accordance with the federal pension legislation, directives, and the Guide.