December 2016

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Distribute pension adjustments

Arriving soon: pension adjustment statements

In late January or early February, you will receive paper or electronic pension adjustment statements for your employees. Distribute them to your employees before the end of February. If you receive electronic pension adjustments, you must report the information to Canada Revenue Agency.

Check out these instructions for more details.

About pension adjustments

  • We calculate pension adjustments on your behalf.
  • The pension adjustment amount represents the value of pension benefits earned in a registered pension plan during a calendar year, based on a formula provided by Canada Revenue Agency (CRA).
  • Pension adjustments affect an individual’s registered retirement savings plan contribution room.

Questions?

Contact Employer Operations


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Website changes

Find what you need more intuitively on your Employer website

Find the information, tools and instructions you need to quickly and easily report employee pension data. These improvements to your website mean less frustration and time spent trying to find what you’re looking for.

What’s changed?

Employer home page—improved

  • Need to sign up for or manage your Web Services account, including E-Remittance?
    • Check out the Web Services E-Handbook in the Web Services section

Secure Employer site—new and improved

  • Already know how to use the reporting tools?
    • Use the quick links, including user account management, on the home page in the Employer Reporting area
  • Time to remit contributions?
    • E-Remittance is in its own area on the home page. It’s also located on the Resources home page
  • Need employee information?
    • Check out the Pension Counselling section on the home page
  • Need help with how to report information?
    • Under Employer Reporting in the Reporting Format section, you’ll now find:
      • Employer quick reference guide
      • Reporting instructions, such as year-end reporting, active members with no service events in over one year instructions and E-Remittance
      • Financial statement guidelines

We hope you’re as excited about the changes as we are. Please share these updates with the appropriate individuals in your organization.


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Payroll Reporting Refresher workshop

There’s still time—attend the free workshop Payroll Reporting Refresher for Payroll reporting tips

Want to learn or refresh your memory about what you need to know to report your payroll? Attend the free workshop Payroll Reporting Refresher . This two-hour online instructor-led course is delivered through GoToMeeting web conferencing.

New to year-end reporting or getting started on this year’s? Here are 12 tips to help make the experience smoother.

Register and learn more about Payroll Reporting Refresher.

Questions?

Workshop information

Year-end reporting

  • Read the Employer Instruction Manual
  • Contact Employer Operations
    • Message Board
    • 250 356-9701 (Victoria) or 1 855 356-9701 (rest of Canada)

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EITR deadline is December 12

Do you have employees retiring November 30? It’s time to submit their termination/retirement info

Don’t delay! Send us termination/retirement information to make sure pension payments are delivered two business days before Christmas to your retiring employees who are members of the Teachers' Pension Plan. Please submit this information using the Employee Information at Termination or Retirement (EITR) tool by December 12.

Questions?

Our team of experts is here to help.


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Use My Account to nominate a beneficiary

Nomination of beneficiary through My Account—less time and paper for you

The nomination of beneficiary feature in My Account can save you time. You won’t need to spend time finding or keeping a current copy of the form. And your employees will get the information they need, when they need it, directly from the pension plan.

Start by recycling your paper copies of the Nomination of Beneficiary form.

Also encourage your employees who are plan members, including those who’ve received an enrolment package, to use My Account when providing us with their nomination of beneficiary information. They can feel confident we have their current information.

Benefits of using My Account

  • They’ll have access to the latest information about beneficiary nomination.
  • They can nominate persons, trustees and organizations, and update their beneficiary information. This includes identifying how much of one’s estate each beneficiary will receive if there are multiple beneficiaries.
  • Their information will be instantly added to our file. Keeping up-to-date and accurate information ensures their final wishes for their pension benefit will be carried out.

To register, they will need their Person ID (PID) number.

  • It’s located on their Member’s Benefit Statement and Welcome to the Plan letter.
  • Your employees can contact the plan if they haven’t yet received these documents.

Questions

As always, we’re here to help.


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Host a workshop at your workplace

Host a free member education workshop

If you have 20–35 employees, we can bring a free workshop to you! You and your employees can experience the advantages of free member education workshops without leaving town. You just need to provide a suitable room with a projection screen.

Which workshop is right for your employees?

Applying is easy:

  1. Complete the Pension Workshop Request form located in the Forms section of the secure Employer site.
  2. We will respond to your request within five business days.

More information

We look forward to working with you!


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Plan design changes coming soon

Plan design changes—have you seen the FAQs?

As you know, the Teachers’ Pension Plan is changing for service accrued on and after January 1, 2018.

Check out the plan design webpage for important details and a link to our plan design FAQs. FAQs will help you and your plan members understand the changes.

More employer-specific information will be coming over the winter and spring. Keep your eyes on this space to learn what you’ll need to do to prepare for plan design changes.

For more information, contact Employer Operations:


Legend
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