News & Updates
OSFI Publishes Draft Instruction Guide on Buy-in Annuity Products
September 21, 2022
The Office of the Superintendent of Financial Institutions (OSFI) has published a draft instruction guide on Buy-in Annuity Products.
The guide updates the current Guidance published in 2012 to reflect:
- updated requirements for the valuation of assets and liabilities
- additional considerations for the administration of pension plans and pension funds
- greater clarity on other expectations, including streamlining of information
- additional references to legislation and guidance material
- changes to accepted actuarial practice and other issues that have emerged since then.
OSFI invites comments on the draft by Oct. 14, 2022.
