OSFI on Guide and Form for Replicating Portfolio Information Summary
OSFI revised the instruction guide and form related to filing the Replicating Portfolio Information Summary. The instruction guide is intended to assist administrators of pension plans in completing the Replicating Portfolio Information Summary. An administrator or its agent must file the Replicating Portfolio Information Summary if a pension plan has defined benefit provisions; is registered or has filed an application for registration under the Pension Benefits Standards Act, 1985 (PBSA); and uses a replicating portfolio approach as an alternative settlement method for solvency valuation purposes.
OSFI expects the Replicating Portfolio Information Summary to be submitted with any actuarial report required to be filed. An actuarial report must generally be filed within six months after the end of the plan year to which it relates. An actuarial report may also be filed at other intervals or times. The administrator must file the Replicating Portfolio Information Summary using the Regulatory Reporting System or RRS. The guide does not supersede the requirements of PBSA, the Pension Benefits Standards Regulations, 1985, the Directives of the Superintendent pursuant to the Pension Benefits Standards Act, 1985 (the Directives), or any guidelines that OSFI has issued or may issue regarding the administration of pension plans subject to the PBSA.
Related Links
Keywords: Americas, Canada, Insurance, Pensions, Pension Benefit Standard Act, Portfolio Information, Reporting, Actuarial Reports, OSFI
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Previous Article
FDIC Releases Economic Scenarios for Stress Testing in 2020Related Articles
OSFI Outlines Prudential Policy Priorities for Coming Months
OSFI has set out the near-term priorities for federally regulated financial institutions and federally regulated private pension plans for the coming months until March 31, 2022.
BIS Announces TechSprint on Innovative Green Finance Solutions
Under the Italian G20 Presidency, BIS Innovation Hub and the Italian central bank BDI launched the second edition of the G20 TechSprint on the lookout for innovative solutions to resolve operational problems in green and sustainable finance.
EBA Proposed Regulatory Standards for Central Database on AML/CFT
EBA proposed the regulatory technical standards on a central database on anti-money laundering and countering the financing of terrorism (AML/CFT) in EU.
ECB Responds to EC Consultation on Crisis Management Framework
ECB published its response to the targeted EC consultation on the review of the bank crisis management and deposit insurance framework in EU.
ACPR Publishes Version 1.0.0 of RUBA Taxonomy
ACPR published Version 1.0.0 of the RUBA taxonomy, which will come into force from the decree of January 31, 2022.
BCBS, CPMI, and IOSCO to Survey Market Participants on Margin Calls
BCBS, CPMI, and IOSCO (the Committees) are inviting entities that participate in market infrastructures and securities markets through an intermediary as well as non-bank intermediaries to complete voluntary surveys on the use of margin calls.
ECB Amends Decision on TLTRO III
ECB published Decision 2021/752 to amend Decision 2019/1311 on the third series of targeted longer-term refinancing operations or TLTRO III.
Central Bank of Ireland Issues Draft Template for AnaCredit Reporting
The Central Bank of Ireland published Version 2.7 of the draft credit data template and rules for monthly AnaCredit reporting by banks.
OSFI Consults on Revisions to BCAR and Leverage Requirements Returns
OSFI proposed revisions to the Basel Capital Adequacy Reporting (BCAR) and leverage requirements returns for the 2023 reporting, with the comment period ending on July 09, 2021.
EBA Seeks Views on Revisions to Nonperforming Loan Data Templates
EBA published a discussion paper on review of the standardized nonperforming loans (NPL) transaction data templates, along with the proposed revised NPL data templates.
