April 2017

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Keep members' records current

Coming soon—Active members with no service events in over one year report

Keeping your members' records current is hard work—but it makes all the difference when it's time to calculate and pay benefits.

Throughout the year, we review our records to identify employees with no service credited to the pension plan in the previous calendar year that have not ended their employment. If we've identified any of your employees, you will receive an email from us indicating a report for your organization has been posted to the Employer website. These instructions outline what you will need to do.

How your hard work helps

  • Having current, complete information allows us to better serve members when calculating their benefits.
  • Delays in providing end of employment information affect when a member is eligible to receive their benefit and future enrolment options with employers of this pension plan.

We must send a benefit option statement to employees on a seniority/recall list who have made no contributions in one year; they have the option of receiving a plan benefit while still keeping their seniority/recall rights.

Pension Benefits Standards Act changes to the definition of “end of employment” affect members on seniority/recall lists. As a result, last year we updated our Active members with no service events in over one year report to show service events that were not reported in the previous year and for which members.

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Web services users access confirmation

Keeping member data secure—Web Services users access confirmation

Are your Web Services users current? Because protecting member data online is important, we keep our records up to date to ensure we maintain security. To do this, we need your help. Please change or add Web Services users for your organization as needed. It's easy and only takes minutes. Here's how.

Thank you for maintaining your user accounts!

Questions

Contact Employer Operations:


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Enter pensionable earnings to the penny

E-Remit to the penny

Remember to enter pensionable earnings to the penny, not to the dollar. Consider copying salary information straight from your payroll reports. This enhancement, announced April 2015, will make your remittances and your balancing process more accurate, and result in less follow up from us.

Resources


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Comprehensive Training workshop

There's still time to register for the one-day Comprehensive Training workshop

Want to learn more about administering your employees' pensions? Our one-day Comprehensive Training workshop will give you the tools you need to succeed.

Training focuses on the core information for understanding key administrative processes:

  • Determining eligibility for enrolment and purchase of service
  • Collecting, recording and submitting correct service, salary and contribution data at the right times
  • Using the Employee Information at Termination/Retirement tool
  • Locating, interpreting and using information, resources and tools on the plan website

Check out the course outline and registration information.

We hope to see you there!


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Employer Council May 2

Power in numbers—the Employer Council

Would you like tips to help you with data submission and other pension administration? Do you have 1,000 or more employees? Then join us at the annual Employer Council May 2.

It's a fun and informative group that

  • Guides each other through the year-end reporting process
  • Shares ideas and feedback
  • Discusses best practices
  • Networks with other plan employers

Meet the Employer Operations team Tuesday, May 2 in Victoria at the Pension Corporation.

How to become a member

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Plan design changes

Are you prepared? Plan design changes may affect you

As last month's newsletter and the recent employer bulletin announced, the plan is modernizing to be more equitable. As part of this modernization:

  • The 35-year limit on earning service will be removed
  • A single simplified rate will replace the differentiated rates

What you need to do

Review your payroll system:

  • Check if updates are needed to process the new rate
  • Ensure contributions continue for employees who reach 35 years of service on or after January 1, 2018
  • Restart contributions for employees who reached 35 years of service before January 1, 2018

Later this year, we will contact affected employees and remind them that contributions will restart in 2018.

Please share this information with the appropriate contacts in your organization.


Legend
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