Home OSFI

Keyword: OSFI

32 results found
Copyright_ducdao_123RF

A deal for the Royal Bank of Canada to absorb HSBC Bank Canada for $13.5 billion is good news for pension plans, said Dave McKay, chief executive officer of RBC. “This is good for shareholders ⁠— which are largely pension funds ⁠— and that’s average Canadian pension funds,” said McKay during a conference call. The […]

Copyright_Wisawa Chinnacotra_123RF

In August, the Canadian Broadcasting Corp. reported that the U.K. Department for Works and Pensions cut off state pension payments to several expatriate pensioners living in Canada due to their failure to complete and return forms to prove they were still alive. However, the report also found many of these retirees never received the forms […]

  • By: Mary Picard
  • November 22, 2022 November 22, 2022
  • 09:00
Copyright_psisa_123RF

The Association of Canadian Pension Management is cautioning the Office of the Superintendent of Financial Institutions on a one-size-fits-all approach to risk management across the diverse sectors regulated by the OSFI. In an open letter responding to a consultation by the OSFI, Ric Marrero, chief executive officer of the ACPM, said such an approach has […]

  • By: Staff
  • July 21, 2022 July 20, 2022
  • 09:00
Copyright_dmitrydemidovich_123RF

An article on Stelco Inc.’s $1.3 billion annuity buy-in for one of its defined benefit pension plans was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Stelco entering $1.3BN annuity buy-in for DB pension 2. KPMG allowing employees to work remotely from another province, country […]

  • By: Staff
  • June 24, 2022 June 23, 2022
  • 09:00
Copyright_ Audtakorn Sutarmjam_123RF

Culture risk management can be enhanced within existing risk management frameworks, says the Canadian Institute of Actuaries, adding it doesn’t see a need for a separate guideline from the Office of the Superintendent of Financial Institutions. In an open letter responding to the OSFI’s consultation, the CIA said it wants a better understanding of any […]

  • By: Staff
  • June 22, 2022 June 21, 2022
  • 09:00
Copyright_hin255_123RF

The importance of risk management isn’t new for the majority of defined benefit pension plan sponsors and administrators. The impact of long-term interest rates, market volatility, changing demographics and increasing longevity, inflation concerns, geopolitical events and other large economic, environmental and social factors are all contributing to the need to manage the financial risks associated […]

71337734-123RF

The Office of the Superintendent of Financial Institutions is publishing its draft guidelines for federally regulated financial institutions, including defined benefit pension plans. Guideline B-15: climate risk management proposes a climate-sensitive prudential framework that recognizes the impact of climate change on managing risk. The guidelines won’t be adopted until after officials review stakeholder responses received […]

  • By: Staff
  • May 31, 2022 May 31, 2022
  • 12:00

An article on how employers can create health benefits and retirement plans for gig workers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Expert panel: How employers can design health benefits, retirement plans for gig workers 2. Hitachi, Unifor agreement includes DB, DC pension […]

  • By: Staff
  • May 27, 2022 May 26, 2022
  • 09:00
Copyright_ Audtakorn Sutarmjam_123RF

The Association of Canadian Pension Management is calling on the Office of the Superintendent of Financial Institutions to provide more detail on how pension plans can enhance their investment risk management strategies. In an open letter responding to a consultation by the OSFI, Ric Marrero, chief executive officer of the ACPM, said while the paper […]

  • By: Staff
  • May 25, 2022 May 20, 2022
  • 09:00
Copyright_hin255_123RF

The Pension Investment Association of Canada is urging the Office of the Superintendent of Financial Institutions to ensure its guidance on pension investment risk management is flexible enough to be appropriate for plans of all sizes. In an open letter, PIAC chair Sean Hewitt addressed 15 points posed by the OSFI to the pension investment sector related […]

  • By: Staff
  • May 17, 2022 May 17, 2022
  • 12:30