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OSFI releases updated version of Instruction Guide for the Preparation of Actuarial Reports for DB Pension Plans

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December 27, 2024

Canada’s Office of the Superintendent of Financial Institutions (OSFI) has released an updated version of its Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans.

The new guide replaces the version last published in November 2023 and goes into effect for actuarial reports with a valuation date on or after Dec. 31, 2024 — although the regulator notes that early adoption is allowed.

The principal changes in the new version of the guide relate to:

  • Updated requirements surrounding the maximum going concern discount rate.
  • Updated funding requirements regarding negotiated contribution plans.

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