The Office of the Superintendent of Financial Institutions (OSFI) has issued a new draft Instruction Guide regarding amendments that reduce benefits under defined benefit pension plans. The draft Instruction Guide may be used while in draft form and replaces the previous Instruction Guide issued in April 2006. The new draft Instruction Guide can be found here.
The Canadian Association of Pension Supervisory Authorities (CASPA) issued new guidelines regarding pension plan prudent investment practices and pension plan funding policies. CASPA is an association of pension regulators that develops harmonized regulatory policies and guidelines to improve pension plan administration. Although the guidelines are not ?Ç£law,?Ç¥ pension plan administrators may use such guidelines in their efforts to implement best practices and fulfill their fiduciary duties. The new guidelines can be found here: Guideline No. 6 and Guideline No. 7.