The Office of the Superintendent of Financial Institutions has published a guide that aims to help defined benefit pension plan administrators sort out asset transfers.

The guide sets out the general principles as well as more detailed criteria and requirements that OSFI will generally expect to be satisfied before granting permission to transfer assets from one pension fund to another.

The criteria include acceptable methods to determine asset transfer values as well as requirements to ensure the protection of members’ rights and interests under pension legislation.

The guide also sets out OSFI’s approach to individual transfers and describes the information it requires to be filed when a request for permission to transfer assets is made.