OSFI Releases Revised Instruction Guide for the Preparation of Actuarial Reports

​The Office of the Superintendent of Financial Institutions (OSFI) has issued a revised Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans. The guide updates the previous one published in November 2022 to reflect:

• updated requirements regarding the maximum going concern discount rate; and
• updated references to the 2020 Agreement Respecting Multi-Jurisdictional Pension Plans, OSFI instruction guides and Canadian Institute of Actuaries (CIA) educational notes regarding pension plans.

The November 2022 guide applies to actuarial reports with a valuation date on and after December 31, 2022. Early adoption is permitted.