News & Updates
OSFI publishes guidance for administration of Negotiated Contribution Plans
January 08, 2025
Canada’s Office of the Superintendent of Financial Institutions (OSFI) has released its guidance for the Administration of Negotiated Contribution Plans (NCPs).
NCPs are multi-employer defined benefit pension plans — as defined under the federal Pension Benefits Standards Act — under which employer contributions are limited to amounts determined in accordance with an agreement, statute, or regulation and that do not vary as a function of the applicable minimum funding requirements.
The main purposes of the guide are to:
- Set out OSFI’’s expectations for managing the funding limitations of NCPs.
- Highlight differences in funding requirements and determination of pension benefit credits for NCPs, as compared to other DB plans.
- Describe enhanced disclosure that NCP administrators must provide to members, former members, their spouses or common-law partners and survivors entitled to benefits under the plan.
Click on more information below to read the guide:
