March 2021

March to do list Monthly Checklist

Print this handy checklist for submission deadlines and reminders.


Legend
Plan information Plan information Legislative information you need to provide to employees Legislative information you
need to provide to employees
Employee information you need to report to us Employee information you
need to report to us
Remitting contributions Remitting contributions

Legislative information you <br />need to provide to employees

Pension contribution limit

2021 maximum deductible pension contribution limit

The 2021 maximum deductible contribution limit is $21,027. This is the amount your employees who are plan members can claim on their tax returns for pension plan contributions. This limit is calculated based on the year’s maximum pensionable earnings.

Resources


Legislative information you <br />need to provide to employeesPlan information

Payroll reporting

Payroll reporting this April

Let’s keep your employees’ information current and ensure pension continuity—submit your Payroll Report by April 10, 2021.

About this report

Your Payroll Report is used to generate important information for certain documents that both Canada Revenue Agency and your employees need. These documents can include pension adjustments and member benefit statements. If your report is late or inaccurate, calculations could be delayed and/or inaccurate, which would require us to follow up with your organization.

Web Services user account management

For security, and to make sure payroll information is reported accurately and on time, you’ll need to decide who on your team will have access to Web Services.

Before starting your Payroll Report, review and update your list of users and their roles. Users will have roles assigned to them (primary user, secondary user or user) depending on their responsibilities in your organization.

Resources


Employee information you need to report to us

Long-term Disability Confirmation Report

Coming soon—Long-term Disability Confirmation Report

Be sure to credit your employees who are plan members with the correct service. The Long-term Disability (LTD) Confirmation Report for your organization will be posted to the secure employer website in April. You will receive an email with a link to instructions on what to do.

If you update your LTD start/stop data by the beginning of March, your LTD Confirmation Report will require fewer (if any) updates later.

About this report

  • The LTD Confirmation Report shows your employees who are plan members currently on LTD and/or those who were on LTD but who have a stop date in the current reporting period.
  • It is crucial that you review the report and, if applicable, submit accurate LTD start/stop information online. The LTD service credited to an employee’s account is used in their pension adjustment calculation and recorded on their Member’s Benefit Statement. If the reported LTD service is incorrect, the result could be an inaccurate pension calculation or payment.

Resources


Employee information you need to report to us

EPA reporting

Electronic pension adjustment reporting to save you time

Tax season is hectic. You’ve got T4s to produce along with your regular payroll reporting duties. However, there’s no need to sort through scads of paper pension adjustments (PAs). Electronic pension adjustments (EPAs) can save you a lot of time.

When you become an EPA reporter, you access your PA statements on the secure employer website in File Pick-up.

Benefits of EPA reporting

  • You will receive your EPA file in time to include the PA amount on your employees’ T4 slips
  • Your PA contact will be advised by email when your EPA file is ready for pickup

Resources


Plan information

Employer Council

Come one, come all to Employer Council

Join us this May for Employer Council—one of the most exciting employer event of the year. Whether you’ve attended in the past or it’s your first time:

  • Enjoy this virtual event from the comfort of your chosen location (save on travel time and expenses!)
  • Connect and hear about the latest news from Pension Corporation—no matter the size of your organization
  • Take time to pause, have some fun and be informed:
    • share ideas, feedback and common experiences—your voice is important to us
    • discuss current issues and best practices
    • hear what Pension Corporation is working on to support you

Stay tuned to the April newsletter for more information.


Plan information

Online employer education

New and returning—online employer education

Wondering how to brush up on your role as a plan employer? New to pension administration? Learn how to administer your plan with free online employer education. There are flexible options to support your pension education needs throughout the year. Choose what works best for you with education you can take anytime, anywhere.

  • For eLearning—now available, Pension Adjustments, Purchasing Service and Enrolling Your Employees.
  • Webinars—registration opens in March; offered by topic for pension administration tasks.
  • Hot Topics webinar series—new topics added regularly.

Interested in a new topic that isn’t covered in one of these sessions? Would you like a Hot Topics webinar rerun? Please let us know!

Resources

  • Employer Education page of the secure employer website:
    • access eLearning by clicking More in the eLearning section
    • access all webinars by clicking More in the Register for a webinar or workshop section
    • access webinars by going to the Register for a webinar or workshop page (from above), find the Comprehensive Training workshop section and click Learn more and register
  • Employer education —remember that we’ve discontinued the employer.outreach@pensionsbc.ca inbox