February 2017

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Register for the Comprehensive Training workshop

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.

The workshop 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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Keep up-to-date with employer news

Staying current—visit us online for the latest documents, reporting tools, links and processes

You’ve probably done it at some point—bookmarked something on our website for future reference or saved a paper copy of a document so it’s accessible when you need it.

To better serve you, we are continuously updating our forms, publications (including the Employer Instruction Manual) and employer education workshops. What you need to provide—and how you need to provide it—can change in significant ways, so it’s important to stay up to date. Find updates in the News sections of the employer and member sections of the plan site, as well as the Employer Newsletter.

Reminders

  • The online reporting tools—LTD Start/Stop, LTD Policy Validation and Employee Information at Termination/Retirement—are designed to make your reporting process easier. They’ve replaced the previous paper forms.
  • Nominating a beneficiary in My Account can save time for you and your employees. You no longer need to keep a paper form on file or assist employees in filling it out.
  • Recent changes mean you no longer need to complete the Re-employment for Retired Members Declaration form.

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Plan design changes

How will plan changes affect teachers’ pensions?

To help teachers understand the impact of the 2018 plan design changes on their pensions, we’ve put together the first two of a number of scenarios we’ll be publishing through the winter.

Hannah and Stanislav represent the ages, experience and earnings of teachers contributing toward a pension who may be retiring in the next 5 to 10 years. Teachers can explore the scenario that best matches their own situation to understand the effects of these changes on their future pension.

To view the scenarios, visit the plan design change website.

This spring, online pension estimators will be updated to take these pension plan changes into account. This update will provide accurate estimates for members thinking about retiring after 2017.

Over the winter, look for employer-specific information about preparing for the plan design changes in newsletters and bulletins.

For more information, contact Employer Operations:


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Employer fall meeting highlights

Summary of Employer Council Meeting and Small Employer Forum

On November 9, 2016, we welcomed more than 30 employer representatives to the Employer Council Meeting and Small Employer Forum in Richmond. The Employer Council consists of the 20 largest employers across all pension plans, while the Small Employer Forum consists of employers with fewer than 1000 employees. The Employer Council meets twice a year (spring and fall), and the Small Employer Forum meets once a year in the fall.

At the meeting, we spent a productive day sharing ideas and learning from one another. The morning kicked off with a welcome by Pension Corporation’s Director of Employer Operations Brad Boquist and Assistant Director Robert Bowness. Client Service Manager Robin Hansen reported on plan updates, including

  • Municipal Pension Plan rate simplification,
  • pension adjustment and amended pension adjustment updates,
  • the new one-year no-contribution report required by the Pension Benefits Standards Act, and
  • changes to the long-term disability confirmation process.

Following these updates, Robert Bowness provided highlights from the last six months of operations and described updates to the employer web portal that are now live.

We then discussed Employer Online Services, a multi-year program geared towards improving services offered to employers. The group was also walked through online year-end preparation tools and participated in a feedback session that provided insight on the new services.

After lunch, Steven Hoose, Assistant Director Creative Services, provided a demonstration and walk-through of the redesigned WorkSafeBC Pension Plan website, which went live November 28, 2016. The new website makes it easier for members to find and understand pension information, and allows them to submit a retirement application package online. Similar redesigns are underway for the other plan websites; next to launch will be the Municipal Pension Plan website in spring 2017.

To wrap up the day, we heard feedback on the Employer Council format from attendees:

  • enjoyed the full-day session
  • thought other teams from Pension Corporation should attend to provide more information about the plans’ governance
  • would like a break-out session on information related to payroll and human resources

We have many great ideas for the next forum in Victoria on May 2, 2017. Contact Kellie White at kellie.white@pensionsbc.ca if you would like to attend.


Legend
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