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Stewardship in Practice: ACPM's 2025 Canadian Pension Trustee Survey

Your voice matters. Help shape the future of pension governance and trustee education!

Pension trustees across Canada play a vital role in protecting the retirement security of millions of plan members. This national survey gives voice to their experiences and perspectives, creating a benchmark for pension governance today. The results will guide the education priorities for the Pension Academy — a Canadian-made learning hub designed to support those who govern Canadian pension plans.

Please note: throughout this survey, the word “board” includes boards of directors, boards of trustees, and pension committees. The term “trustee” is used in a broad sense to include pension trustees, directors and pension committee members.


Let's begin!
1.Which of the following best describes the governance model for the pension plan you are responsible for? Please select only one.
2.Which of the following is the responsibility of your governing body? Please select all that apply.
3.How would you rate the overall effectiveness of this Board?
Not at all effective
Highly effective
4.What would you say are the top three (3) strengths of this Board?
5.From this list, what three (3) areas represent the greatest opportunities for improvement?
6.How effective is this Board at:
1
Not at all effective
2
3
4
5
Very effective
Encouraging open and balanced debate when perspectives differ
Engaging in meaningful dialogue with key advisors
Engaging in meaningful dialogue with senior management
Onboarding new trustees
Maintaining clear boundaries between its role and that of management
Evaluating our performance as a Board
Providing information to trustees that is appropriately detailed for effective decision-making
7.How effective is the Chair of this Board in terms of:
1
Not at all effective
2
3
4
5
Very effective
Providing effective leadership
Operating with clarity and focus
Encouraging all members to participate in discussions
Ensuring discussions remain balanced and focused
8.To what extent do you agree or disagree that members of this Board have a consistent understanding of:
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
Their fiduciary and legal responsibilities
How this pension plan works
What it means for the plan to be financially sustainable over the long term
The level of risks facing the plan
The level of due diligence expected in the Board's decision-making
How to balance competing interests when making decisions
9.I am confident:
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
That this Board consistently acts in the best interests of plan beneficiaries
That ethical or governance concerns can be raised, without fear of negative consequences
In my ability to identify and manage conflicts of interest, appropriately
10.What is the most significant challenge your Board is facing at this time?
11.This Board:
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
Represents a well-balanced mix of skills and experience relevant to its responsibilities
Demonstrates a strong commitment to continuous learning (e.g. emerging risks, market developments, opportunities)
Fosters a respectful environment even when viewpoints differ
12.Which of the following professional backgrounds are represented on your Board? Please select all that apply
13.In which area(s) would additional learning be valuable for this Board? Please select all that apply.
14.What is the one skill or area of knowledge that would most enhance your effectiveness as a Trustee?
15.What type(s) of approaches to learning do you find most valuable? Please select up to 2 responses.
16.Does your Board have a formal risk management framework that outlines how risks are identified, assessed and monitored?
17.I believe that:
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
Not applicable
Our plan's investment strategy takes an appropriate level of risk
Our Board dedicates the right amount of time to understanding emerging and disruptive risks
Our Board considers a range of potential scenarios when evaluating risks (financial, demographic, social technology, environment etc).
18.I have a good understanding of:
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
Not applicable
The investment risks associated with our plan's investments
How the Board monitors investment managers performance and fees
How the Board monitors third-party service providers
How the Board monitors operational risk (including cyber)
Our Board's protocols for responding to reputational risk
My role and responsibilities in the event of a data breach
19.Has your Board tested a cyber-incident response plan in the past 12 months?
20.I have a good understanding of:
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
The value of our pension plan to members
How our Board monitors the effectiveness of our member engagement and communication strategy.
21.What is the one change that would most strengthen your Board's effectiveness?
Please respond to the following questions, included for statistical purposes only. All responses are completely anonymous and confidential. Results will be reported in aggregate only.
22.How are members of your Board appointed? Please select all that apply.
23.What is the size of your Board?
24.Please indicate the capacity in which you serve on the Board:
25.Are you the Chair of your Board or one of the Board Committees?
26.Are you financially remunerated for serving on this Board?
27.Tenure on this Board:
28.Type(s) of plan (please select all that apply):
29.Plan structure:
30.Plan sector:
31.Jurisdiction where pension plan is registered:
32.Plan assets:
33.We recognize that people may sit on more than one Board. Have you completed this survey based on your experience on another board?
34.Age
35.Gender