December 2018

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Pension adjustment statements

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 (EPAs), you must report the information to Canada Revenue Agency (CRA).

Check out these instructions for more details.

About pension adjustments

  • We calculate pension adjustments on your behalf
  • The PA amount represents the value of pension benefits earned by an individual in a registered pension plan during a calendar year, based on a formula provided by CRA
  • PAs affect an individualís registered retirement savings plan contribution room

Questions?


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Termination or retirement info

Do you have employees retiring November 30? Itís time to submit their termination or retirement info

Donít delay! Send us the termination or retirement information for your retiring employees who are Municipal Pension Plan members to make sure their pension payments are delivered two business days before Christmas. Please submit this information using the Employee Information at Termination/Retirement tool by December 12.

For more information


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Balance remittances to Payroll Report

Remitted contributions donít match your Payroll Report? Hereís some help

Ensuring your remittance matches the data on your Payroll Report saves you time and effort later.

We know balancing your remitted contributions and salary to the data on the Payroll Report is easier said than done. Thatís why thereís a form called Balancing Help on the secure employer website; click Reports, then click E-Remittance. The form includes total remittances to date and a guideline for balancing remitted funds to payroll data.

Why this is important

  • Balancing remittances to your Payroll Report ensures the pension plan has correct information to process employees who are plan membersí pension benefits and pension adjustment statements
  • Accurate data is critical in calculating benefits for members on retirement or termination

If we receive unbalanced data, your Payroll Report will differ from your remittances. Using Balancing Help quarterly will help reduce the number of errors you need to fix.

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Web Services users access confirmation

Keeping member data secure Ė Web Services users access confirmation

Are your Web Services users current? Because protecting member data online is important, we keep our records current to ensure we maintain security. To do this, we need your help. Please remove staff who no longer work at your organization, and change and add Web Services users for your organization as needed. Itís easy and only takes minutes. Hereís how.

Thank you for maintaining your user accounts!

Questions

Contact Employer Operations:


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Payroll Reporting Refresher

Thereís still time to register for the free year-end reporting webinar

The free employer webinar Payroll Reporting Refresher is perfect if youíre new to payroll reporting or wanting to refresh your memory. This two-hour online instructor-led course is delivered through Lync. If you havenít already Ė register today!

Check out the Employer Education page of the secure employer website to learn more and register.

Year-end reporting

There are a few ways you can access additional information on payroll reporting:


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Hot Topic webinar

Reminder: free monthly Hot Topic webinar to answer your questions

Would you like more opportunities to discuss pension administration and share experiences with other employers? Join us online the third Thursday of each month for a different Hot Topic webinar.

All you need to know

What: Timely topics to help you learn about the employer reporting process and to answer your questions so you can succeed at pension administration. Possible topics include:

  • Determining eligibility for enrolment in the plan
  • Collecting and remitting employer and member contributions
  • Collecting, recording and submitting correct service, salary and contribution data
  • Determining eligibility for purchasing service
  • Completing and submitting required forms, documents and reports

How: Check out the Employer Education page on the secure employer website for details, including dates, times and a registration link.

Have any burning questions or issues about pension administration? Submit your hot topic suggestion to Employer Operations.


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Employer survey

Your voice matters in your employer survey

Your feedback helps us improve. It would take about 10 minutes for you to complete the employer survey and let us know what you think of the products and services provided to you as a plan employer.

Who

If youíve signed in to the secure employer website at some point over the past year, you might be randomly selected to participate in the survey.

When

If you are selected:

  • You can expect to receive an invitation in late December or early January to complete the survey, which runs in January.
  • You wonít be asked to complete another survey this year. Selected participants receive only one survey invitation in a calendar year.

Your feedback, including comments and suggestions, is anonymous and cannot be traced back to you.

Results to date

If youíre curious what your peers have shared, hereís a look at feedback from surveys completed in September 2018. Note that ďnĒ below refers to the number of individuals who responded to questions on that topic.

Employer Bulletin
(n=41)

Member
News

(n=41)

Employer Instruction Manual
(n=41)

Employer Newsletter
(n=41)

% very good/good

Well organized and presented

98

93

85

97

Easy to understand

98

93

83

100

Relevant to you and your situation

n/a

n/a

n/a

94

Being delivered to you in a reasonable time

n/a

n/a

n/a

100

% right amount/enough

Amount of detail

92

90

67

100

Many thanks to those of you who have completed surveys already and to those who will participate next time!


Legend
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