Pension Benefits at Selkirk College https my selkirk
Pension & Benefits at Selkirk College https: //my. selkirk. ca/staff/dept/hr/employe etotalcompensation/benefits/
BC Public Sector Pension Plan (serving more than 1, 000 employers and 500, 000 plan members) www. pensionsbc. ca College Pension Plan (at time of writing Nov 1 2016) • • Employee: 9. 96% on all pensionable earnings Employer: 10. 06% on all pensionable earnings Municipal Pension Plan • • (at time of writing Nov 1 2016) Employee: 8. 5% up to YMPE ($54, 900) 10% over YMPE Employer: 9. 95% on all pensionable earnings
Selkirk’s Pension Plan BC Public Sector Pension Plan www. pensionsbc. ca The College Pension Plan (CPEN) and the Municipal Pension Plan (MPEN) are defined benefit plans (DB). A DB plan means that as a member of the plan your monthly pension amount is determined by a formula. This formula is a set percentage multiplied by your highest average salary (HAS) and the amount of pensionable service you have within the plan. Your pension is not based on your contributions to the Plan nor on the performance of the Plan’s assets.
Defined Benefit Plan The advantage of a defined benefit plan is that your pension is predictable and is not based entirely on economic conditions that existed during your working lifetime, nor at the time of your retirement.
Your Pension & Transfer Agreements Reciprocal Transfer Agreements Transfer agreements allow pension plan members to carry pension rights from one plan to another. You may be able to enhance your pension benefit by transferring your pensionable and contributory service from another pension plan to your College or Municipal Plan. The College plan has transfer agreements with a number of pension plans across Canada. There are no agreements with plans outside Canada.
Considerations involved in transferring • Benefits of transferring • When it’s not to your advantage to transfer • Differences in pension service value between plans • Eligibility to transfer service • Transferring service from more than one plan • How transferring service will affect your pension • Tax implications
Homewood Health EFAP (Employee & Family Assistance Program) Selkirk offers Employees and their dependent family members a broad range of health and wellness services under our EFAP program. In addition to providing confidential Counselling Services, the program also offers Plan Smart Services – a series of work-life services for expert advice, information, and coaching that you can access and use in your own way. EFAP is a complement to the current benefits program, at no additional cost to employees. Individuals can contact Homewood Health directly by phone or through their website 24/7/365. www. homeweb. ca
Homewood Health • Life Balance Solutions • • Health Smart Coaching Services • • New Parent Support Childcare and Parenting Elder and Family Care Relationship Solutions Financial Consultation Legal Advisory 12 Weeks to Wellness Nutritional Counselling Smoking Cessation Career Smart Counselling Services • • Career Counselling Pre-Retirement Planning
At Selkirk we recognize that Group benefits are important, not only for the financial assistance they provide, but for the security they provide you and your family, especially in case of unforeseen needs. Our group provider of benefits is Manulife Financial. Manulife offers a range of benefit coverage including: Extended Health Benefits (vision care, professional services including Chiropractor, Podiatrist, Massage Therapist (RMT), Naturopath, Speech Therapist, Physiotherapist, Psychologist, Acupuncturist Dental Care Benefits Medical Travel Referral Emergency Travel Assistance Life Insurance Accidental Death (Industrial Alliance) Disability Benefits
Group Benefits Mobile digital benefits card is here! Group Benefits Mobile just got even better. A digital version of your benefits card is now available through the app. You can: Some of the features already available through the app include: ability to submit claims; ■■ use the digital card at your pharmacy; ■■ use the digital card as a replacement if you lose your wallet card. ■■ ■■ ■■ This means everything you need to use your benefits plan is now conveniently available through your mobile device. If you haven’t already, download Group Benefits Mobile from your favourite app store today. access to explanation of benefits statements and claims payment details; ability to view important messages from Manulife and your employer; access to information and resources related to your drug coverage through My drug plan. ■■ The digital card is available in the drop‑down menu on the app. Manulifeandthe. Block. Desg i naretrademarksof. The. Manufacturers. Life. Insurance. Companyandareusedbyit, andbyitsaffiliatesunderlicence. CS 3914 E 07/16
What’s better than having benefits? Having benefits on the go. Manulife Group Benefits Mobile allows your plan members to manage their benefits from their favourite mobile device, wherever they have an internet connection. Group Benefits Mobile offers: Fully secure login with all personal data kept confidential and encrypted ■■ Home page with message centre ■■ Ability to submit new claims ■■ Functionality to view most recent claims details ■■ Plan members can access the Group Benefits Mobile two ways: 1. Mobile site Access from any browser on any mobile device ■■ If the desktop site is accessed on a mobile device, plan members will be asked if they would like to continue to the mobile site or the desktop site ■■ 2. Mobile app Plan members will be directed to the mobile site when the app is launched ■■ The Group Benefits Mobile app is available for download from any app store ■■ Download from Windows Phone Store Responsive web design Group Benefits Mobile was designed to be responsive and automatically adapts to fit any mobile device screen. This ensures optimal viewing for your plan member, no matter what mobile device they use. Try our Group Benefits Mobile demo at www. manulife. ca/groupbenefits/mobiledemo Manulife, Manulife. Financial, the. Manulife. Financial. For. Your. Futurelogo, the. Bo l ck. Desg i n, the. Four. Cubes. Desg i n, and. Strong. Reliable. Trustworthy. Forward-thinkingaretrademarksof. The. Manufacturers. Life. Insurance. Companyandareusedbyit, andbyitsaffiliatesunderlicense. GC 265302/2014
- Slides: 11