Pension e-news
April 16, 2015
Your New Pension e-news
Welcome to your new Pension e-news.
You told us the password protected format of Pension e-news simply wasn't convenient.
That's why we're introducing this new Pension e-news. It comes directly to your in-box. There's no password required. It's mobile friendly. And you can easily forward this to others in your organization.
Any sensitive information that we need to communicate to you will continue to be delivered and stored securely in the password protected Employer Online Services (EOS).
As we move toward full implementation of our Next Generation project, Pension e-news will have articles about the changes you and your pension plan members will experience and what to do, when, to fully benefit from those changes.
We'll be asking you to share this information through your organization's communication channels -- your intranets, newsletters, even posting on your bulletin boards.
You can start by providing your pension plan members with the dates of our upcoming member webinars. These convenient online sessions provide members an overview of their plan specific retirement benefits and the opportunity to ask questions about their pension to an APS pension specialist. Fully interactive, the webinar presentation includes a look at calculations, options, COLA and Coordination.
Enjoy this first issue. Let me know what you think.
Troy Diakow
Executive Director, APS Client Services
Pensioners Sign Up for New Online Service
Convenient, smooth, and simple. That's how pensioners are describing their experience with the newly launched mypensionplan.ca for pensioners that provides them the convenience of going online 24/7 to:
- View their pension payments and payment dates
- Send and receive messages and documents through the secure mailbox
- Manage banking and direct deposit information
- Update address, contact and beneficiary information
- Learn about Cost-of-Living Adjustments (COLA)
- Access their tax forms and related information
- Download and print forms and publications
The new pensioner online service launched March 30 with a staged rollout. The first wave of about 3,500 current pensioners were sent letters inviting them to use their new identifier number (this replaces their pension number) to register on line and use the new service.
Since then, about 600 pensioners have registered and are updating their banking information, printing their T4As and using the secure mailbox to send documents such as marriage certificates. Watch the video for a peek at the new service. Pensioners will receive letters between now and May 31 inviting them to use the online service. Newly retired members (those retiring in April and May) will begin to receive their new identifier numbers and invitations to go online starting in June.
Standardized Naming Convention for EFT / DD Payments
When submitting Electronic File Transfer (EFT) and Direct Debit (DD) payments via your financial institution please include your employer number at the beginning of the description - before the employer name. Using this new standardized naming convention will help increase the speed and accuracy of recording and matching payments to remittance details.
Standardized Format: ER###Employer Name
Example: ER100APS
Example: ER001GOA
Example: ER001GovernmentofAlberta
This information can be updated on a per-payment basis or by setting it up directly with your financial institution.
Please also submit an EFT payment breakdown to the following email address: contributions@apsc.ca
Need more information? Contact your Employer Services Representative at 1-877-391-EMPL (3675).
April Employer Webinars
What we will cover: Various aspects of pension plan administration. About the session: These are topic-specific, live webinars. Run times may vary.
How to register: Register via EOS.
Questions? Contact your employer services representative at 1-877-391-3675.
April 15 1:30-2:30 PM Retirements: Examines the retirement process
April 22 1:30-2:30 PM Optional Service: Includes discussion about leave periods and prior service
April 28 1:30-2:30 PM Employer Q and A: Ask a pension specialist
Featured Information: Divorce and Your Pension
Marital breakdown can result in a division of your pension.
Regulations state that Alberta Pensions Services Corporation (APS) is required to provide pension information to both the pension member and the spouse, when requested by either party.
Regulations regarding pension division on marital breakdown impact members of the Local Authorities Pension Plan, Public Service Pension Plan, Management Employees Pension Plan, Supplementary Retirement Plan (SRP) for Public Service Managers, Special Forces Pension Plan, and Public Service Management (Closed Membership) Pension Plan.
See our Featured Information section on the APS website for more information on this issue.