June 2022

June checklist 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

Amended pension adjustment statements

Arriving soon: Amended pension adjustment statements

By mid June, you will receive paper amended pension adjustment statements or a notification that electronic amended pension adjustment statements are available in File Pick-up for your employees who are plan members.

What you need to do

  • Paper statements: Distribute paper statements to your employees before the end of June.
  • Electronic statements: Report the information to Canada Revenue Agency (CRA).

About pension adjustments

  • A pension adjustment 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.
  • We calculate pension adjustments on your behalf.
  • An amended pension adjustment is a recalculation of a previous pension adjustment.
  • Pension adjustments affect an individual’s registered retirement savings plan contribution room.

Review the Pension Adjustments (PA)/Amended Pension Adjustments (APA) instructions and section 9 of the Employer Instruction Manual to learn more.


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

Correcting payroll report errors

Need to correct salary or contribution errors on your payroll report?

It can happen—you find an error in your payroll report after it’s been finalized. Now what? You’ll need to correct it. Find out how in these reporting instructions.

Wondering how payroll reports are finalized?

After you’ve submitted your payroll report information, if there are errors, we will work with you to make sure the data is corrected for your employees who are plan members.

Here’s what we do:

  1. Identify and address all individual employee account errors and contribution variances.
  2. Confirm that the total payroll data posted for the year matches the total contributions and salary remitted for the year; this is referred to as payroll data reported (posted) vs. remitted—or PvR for short.
  3. Work with you to make any final corrections through the payroll reporting process to make sure the payroll data reported is accurate.
  4. Either refund or invoice you for the difference in the PvR, if there is one, once all your employees’ pension data has been accounted for.
  5. Consider payroll data reported for the calendar year balanced and final, once the PvR is complete.

Legislative information you <br />need to provide to employeesEmployee information you need to report to us

Employee SIN

Does your employee now have a permanent social insurance number?

If you have an employee who now has a permanent social insurance number (SIN) but had an immigration SIN when they enrolled in the plan, please let us know. The immigration SIN is no longer valid and you’ll need to update their new SIN.

It’s easy to update an employee’s SIN—follow these reporting instructions.

Note: Update their SIN in their existing Plan Member Record. Do not create a new record.


Remitting contributions

Stop using Internet Explorer

Time to stop using Internet Explorer

The end of life for Internet Explorer (IE) is finally here. Starting June 15, if you’re still using IE to submit data, you will be redirected to Microsoft Edge. You can also switch from IE to a browser of your choice any time before June 15.

If you’re having trouble switching to a new browser, connect with your organization’s IT team first. Employer Operations is here to help you access your reporting tools and resources after you’ve made the switch successfully.


Plan information

BC’s pension plans support jobs and communities

Learn more: BC’s pension plans support jobs and communities

Did you know? Around 692,000 British Columbians are members of public pension plans who have worked or are currently working in every region of BC.

Recent research presented at this year’s Employer Council highlights the unique value provided by public sector pension plans. Findings in the report commissioned by the Canadian Public Pension Leadership Council (CPPLC) show how these plans provide stability to British Columbians and demonstrate how residents of BC benefit in different ways.

Learn more about how BC’s pension plans support jobs and communities.


Plan information

Employer survey

Your voice matters—take the employer survey

If you have signed in to the secure employer website over the last year, you may be randomly chosen to participate in the next employer survey. It takes only 10 minutes to complete, and your feedback lets us know what you think about the products and services we provide to you as a plan employer. Survey invitations will be sent in June. Your feedback, including comments and suggestions, is anonymous and cannot be traced back to you.

This survey is sent out four times a year: in March, June, September and December.

Are you curious about what your peers have shared in past surveys? Here’s a look at feedback from December 2021.

Employer Bulletin
(n=35)

Member
News

(n=35)

Employer Instruction Manual
(n=35)

Employer Newsletter
(n=35)

% very good/good

Well organized and presented

86

87

68

81

Easy to understand

93

84

74

76

Relevant to you and your situation

n/a

n/a

n/a

71

Being delivered to you in a reasonable time

n/a

n/a

n/a

67

% right amount/enough

Amount of detail

84

85

74

89

Because of the small number of participants in each plan, data for all plans is reported in one table to maintain anonymity.

The “n” in the table indicates the number of individuals who responded to questions on that topic. The phrases “% very good/good” and “% right amount/enough” refer to how well survey respondents believe a particular product meets their expectations.

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