OSFI updates its FAQs on COVID-19 related regulatory measures

​​​OSFI has published a series of Frequently Asked Questions (FAQs) available for federally regulated private pension plans about the regulatory measures it has taken to address issues stemming from COVID-19.

Further to OSFI’s announcement on August 31, 2020 notifying private pension plans that the Superintendent has lifted the temporary freeze imposed in March that prohibited all portability transfers and annuity purchases relating to defined benefit plan provisions, several questions and responses were added to this series of FAQs. New and expanded questions were flagged to allow the reader to easily identify them. Today, OSFI added a few more questions and responses to this series and expanded responses to some existing questions. These new additions and updates are identified with today’s date.

Updates to these FAQs are made regularly to ensure that the information remains current and reflects any new measures announced by OSFI.