The Office of the Superintendent of Financial Institutions (OSFI) Canada published updated versions of the Risk Assessment Framework for Federally Regulated Private Pension Plans and its accompanying guidance note on asset management. Updates reflect changes to the pension plan examination process and include additions on what to consider when assessing risk in situations where a pension plan or a pooled registered pension plan offers investment choices to its members.
The Office of the Superintendent of Financial Institutions (OSFI) Canada published its Risk Assessment Framework for Federally Regulated Pension Plans and Guidance Notes to show key elements of its supervisory process for pension plans. The OSFI supervisory methodology is risk-focused and covers administration, communication to members, actuarial and asset management activities. It puts the responsibility on plan administrators to administer plans in compliance with the regulatory framework. OSFI uses the Guidance Notes for making consistent assessments of the risks associated with a pension plan.