How Pension Plans are Governed
Every pension plan is expected to document how it will be set up and how all the different parties involved in administering the plan will meet their responsibilities. This is known as the plan’s governance structure.
The Canadian Association of Pension Supervisory Authorities (CAPSA), an organization representing pension plan regulators in Canada, created a guideline to help plan administrators set up good plan governance structures, as well as related policies and processes. It also recommends plan administrators regularly review their plan’s governance structures, policies and processes.
Getting Information About Your Pension Plan's Governance
Your pension plan administrator may have documents that outline the plan’s governance structure. As a plan member, former member or retired member, you are entitled to receive copies of some of these documents, which you can request directly from your administrator.