Osfi-bsif.gc.ca

Office of the Superintendent of Financial Institutions

WebPeter Routledge was appointed Superintendent of Financial Institutions on June 29, 2021. He previously served as the President and Chief Executive Officer of Canada Deposit …

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URL: https://www.osfi-bsif.gc.ca/en

Who we regulate – private pension plans

WebWho we regulate – private pension plans. We regulate and supervise more than 1200 pension plans. Below, you’ll find a list of these plans, updated daily, or see our list of …

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Climate Risk Management

WebThe Guideline presents the following three expected outcomes for FRFIs to achieve. The FRFI understands and mitigates against potential impacts of climate-related risks to its …

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Unlocking funds from a pension plan or from a locked-in …

WebThe unlocking options available from a locked-in retirement savings plan or a pension plan, and the conditions that must be met to take advantage of them, are set out in sections …

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OSFI Summarizes Responses to its Climate Risk Discussion Paper

WebTo: Federally regulated financial institutions and federally regulated pension plans On January 11, 2021, OSFI released a discussion paper entitled Navigating Uncertainty in …

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Unlocking from restricted life income funds

WebThe Pension Benefits Standards Regulations, 1985 (PBSR) require that any amount withdrawn from a restricted life income fund (RLIF) be transferred to a registered …

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Guidance library

WebGuideline. Capital Adequacy Requirements. December 14, 2023. Minimum Capital Test 2024 – Adjustments and clarifications. Property and Casualty Companies. Adjustments …

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Financial hardship unlocking

WebThe expenditures must be on a medical or disability-related treatment or adaptive technology that a physician certifies is necessary. Medical or disability related expenses …

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Insurance in Canada of Risks

WebIntroduction: Section 573 of the Insurance Companies Act (ICA) provides that a foreign entity shall not insure in Canada a risk unless it is authorized by order of the …

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Unlocking Options

WebThe unlocking options available from a locked-in retirement savings plan or a pension plan, and the conditions that must be met to take advantage of them, are set out in sections …

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Financial institutions

WebThese companies offer insurance for risks including automobile, property and liability. We regulate and supervise all federally registered financial institutions in Canada, including …

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Life insurance companies and fraternal benefit societies

WebWe regulate and supervise some life insurance companies and fraternal benefit societies in Canada. There are 3 large, international companies in Canada, and many smaller life …

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Form 1 and Instructions – Attestation regarding withdrawal based …

WebLow income: The amount that can be unlocked is determined using a sliding scale based on your expected income. If your expected income for the current calendar year (from Jan.1 …

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Summary of remarks by Assistant Superintendent at Canadian Life …

WebOn May 3, 2023 Tolga Yalkin, Assistant Superintendent of Policy, Innovation and Stakeholder Affairs at the Office of the Superintendent of Financial Institutions (OSFI), took part in a discussion with Stephen Frank, President and CEO of the Canadian Life and Health Insurance Association (CLHIA), at the CLHIA’s Compliance and Consumer …

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Life Income Funds, Restricted Life Income Funds, and Variable …

WebAre there minimum or maximum amounts that can be withdrawn from a life income fund (LIF), restricted life income fund (RLIF) and variable benefit account? LIFs …

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Financial Industry Forum on Artificial Intelligence: A Canadian

WebOSFI partnered with the Global Risk Institute (GRI) to create a community of AI thought-leaders from academia, regulators, banks, insurers, pension plans, fintechs, and research. centres. This group, called the Financial Industry Forum on Artificial Intelligence (FIFAI), advanced the conversation around appropriate safeguards and risk

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What We Heard: Consultations on Draft Climate Risk Returns

WebDate: March 20, 2024 Introduction Background Building resilience against climate-related risks requires Federally Regulated Financial Institutions (FRFIs) to address vulnerabilities in their business models, operations, and balance sheets. It entails forward-looking approaches that are holistic, integrated, and built on reliable empirical data and sound …

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