The Guides posted on the website are for general guidance only and are not definitive statements on the law. The Pension Benefits Standards Act, 1985, its Regulations and Directives, which are also located on this website, govern. Appropriate legal and actuarial advice should be obtained on how the Act, regulations and Directives affect your pension plan.
The objects of the Office of the Superintendent of Financial Institutions in supervising federal private pension plans and the factors that affect the pursuit of those objects can be found in subsections 4(2.1), (3) and (5) of the Office of the Superintendent of Financial Institutions Act. While the regulation and supervision of pension plans by the Office and the Superintendent can reduce the risk that pension plans will fail to pay the expected benefits, regulation and supervision must be carried out having regard to the fact that administrators of pension plans are responsible for the management of the pension plans and that pension plans can experience financial and funding difficulties that can result in the reduction of those benefits.