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OSFI releases "Instruction Guide on Buy-In Annuity Products"

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May 04, 2023

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The Office of the Superintendent of Financial Institutions (OSFI) recently released the “Instruction Guide on Buy-in Annuity Products”, which updates and replaces its prior 2012 instruction guide.

This updated Instruction Guide aims to help pension plan administrators with defined benefit provisions that are registered (or have filed an application for registration) under the Pension Benefits Standards Act, 1985 when it comes to reporting requirements of buy-in annuities.

The updated areas include:

  • new requirements on assets and liabilities valuation
  • additional considerations for the administration of pension plans and pension funds
  • more references to guidance material and legislation
  • changes to accepted actuarial practice and new, emerging issues.

For the full guide, click on more information below:

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