Office of the Superintendent of Financial Institutions
In the fall of 2017, the Office of the Superintendent of Financial Institutions (OSFI) commissioned Phoenix SPI, an independent research firm, to conduct a confidential online survey with administrators and professional advisors of active private pension plans regulated by OSFI. The primary objective was to assess OSFI’s performance and to collect suggestions for improvement. Surveys of pension plan stakeholders are generally conducted every three years.
Phoenix SPI provided OSFI with a report presenting the results from the survey in summary form; OSFI does not know how specific administrators and professional advisors responded.
The overall results from the 2017 survey are positive, with most areas improved or comparable to results from the previous study conducted in 2014. Among other areas, high positive ratings pertain to effectiveness in supervising plans, timeliness in responding to enquiries, guidance that provides a clear indication of OSFI’s expectations, and the ability to communicate in the official language of choice.
OSFI appreciates the feedback provided through this research and has developed action plans to address areas identified for improvement. Future studies will monitor OSFI’s overall effectiveness and progress in relation to areas covered by the survey and past findings.
The final report is available on the Library and Archives Canada website. For further information about the study methodology or the results, please send an e-mail to firstname.lastname@example.org.
OSFI’s mandate is to protect depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks.