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Procurement Market Intelligence Report

RRSP Administration Services in Canada
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for RRSP Administration Services in Canada?

What is the average price of RRSP Administration Services in Canada?

This procurement report includes pricing information to help you purchase RRSP Administration Services in Canada. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of RRSP Administration Services in Canada been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase RRSP Administration Services in Canada yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing RRSP Administration Services in Canada?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for RRSP Administration Services in Canada with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Evaluate major factors to mitigate risk

How risky is the RRSP Administration Services supply chain in Canada?

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HIGH

MEDIUM

LOW

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Quality Assurance

  • How does your firm maintain quality? What quality assurance measures do you have in place?
  • What type of entity would be in charge of my company's RRSP? Would it be a team of multiple people or a single person? Are they fiduciaries?
  • What type of training do you provide to your clients to ensure they can make full use of your systems?
  • What procedures do you have in place for measuring client satisfaction? Participant satisfaction?
  • What index-based funds do you offer in our plan?
  • What is the average "portfolio turnover" for the funds in our plan?

Reporting Practices

  • What are the standard reports you offer to clients? Can you provide examples of them?
  • What customizable reports do you offer to clients? Do you have any examples?
  • What documents do you provide directly to plan participants?
  • On what types of media can you produce your reports?
  • What is the average amount of time it takes to furnish reports after the reporting period has ended?

System Capabilities

  • What types of hardware and software do you use to keep records and administer your client's RRSPs?
  • How do you ensure your software remains up-to-date with regulations and client needs? Are you in charge of its development, or does another firm handle development?
  • How often are your systems upgraded?
  • What systems do you have in place to recover files in the case of a disaster?
  • What types of systems do you offer to plan participants to access information about their RRSPs?

Sourcing across North America?

Combine Canada Spotlight Reports with our US Market Intelligence to bolster your North American strategy

Key elements for every RFP

What should my RRSP Administration Services in Canada RFP include?

Project Budget

  • Buyers should explicitly highlight the number of employees and value of assets of their current plan as pricing will be centred around these factors.
  • Buyers should state expectations about related fees.

Selection Criteria

  • Buyers should consider a vendor’s experience and past performances when managing RRSPs.
  • Buyers should evaluate the scope of services that a vendor promises to supply.
  • Buyers should evaluate how a vendor’s implementation plan aligns with their own operating needs.
  • Buyers should verify each supplier’s financial stability.

Project Schedule

  • Buyers should outline the timeline for the RFP and project.
  • Buyers need to include when the RFP documents become available, when the deadline is for written questions, when proposals are due, when interviews will take place and when award information will be available.
  • Buyers should also include any other relevant benchmark dates, such as the desired date of implementation.