Risk assessment and intervention

OSFI’s mandate includes supervising pension plans to determine whether they are meeting the minimum funding requirements and are complying with the other requirements of the Pension Benefits Standards Act, 1985 and the Pooled Registered Pension Plans Act and their Regulations and supervisory requirements under that legislation. OSFI achieves this objective by conducting risk assessments of pension plans in accordance with its Risk Assessment Framework and providing timely and effective intervention and feedback based on our Guide to Intervention. OSFI’s mandate also recognizes that plan administrators are responsible for the plan’s management, and that pension plans can experience financial and funding difficulties that can result in the reduction of expected benefits.