News November 1, 2018

November 1, 2018

Enhanced pension plan for members comes into effect November 1

 

The SIU of Canada knows the importance of saving for your retirement. That’s why we’ve taken steps to introduce an enhanced retirement plan to help you and your family plan for your future.

 

As of November 12018, the SIU of Canada group pension plan will be transitioning from Desjardins to Manulife. The transition from Desjardins will be automatic, and an account will be created for you. All of your pension contributions after November 1 will be directed into this new Manulife account. It is important to note that your investments from Desjardins will be transferred to comparable investments at Manulife in January 2019. You will receive a letter from Manulife confirming your asset transfer to your home address no later than February 2019.

 

You will soon receive a welcome letter and opening statement from Manulife. Once you receive your welcome letter, you will need to register for your online account using your personal customer number found in the welcome letter and the last three digits of your SIN. Your online account allows you to view and make changes to your personal or investment information.

 

To register for your online account, go to Manulife.ca/GRO. Click the Sign In button and choose My Group Retirement, Click Register Now and follow the instructions. Once you have registered for your account, you can confirm your account information. This includes important items like your personal information, beneficiary designation, investments and contribution direction. Detailed instructions on how to access these functions can be found in the Manulife transition guide and welcome package you received.

 

You can log on to your account at Manulife.ca/GRO at any time to manage and monitor your retirement account, transfer funds between investments and view your personal rates of return. You will also have access to Manulife’s Steps Retirement Program to set and track your retirement goal along with the Financial Wellness Assessment tool, which can help you tackle your financial priorities. If you have any questions or concerns, Manulife representatives including Customer Service Support and Financial Education Specialists can be reached from Monday-Friday 8 a.m – 8 p.m.

 

Part of the changes being introduced to your group retirement program is a banking option with CIBC. This option will ensure banking that fits your life – meaning you will be able to access the services you need, anytime, anyplace through phone, internet or mobile. SIU members will have access to expert financial guidance from CIBC. Most importantly, the group banking option with CIBC grants SIU members with free banking and preferred rates.

 

The SIU of Canada is proud to offer this enhanced retirement package to our members. This will help you better save to ensure a comfortable retirement. If you have any questions about the retirement package, representatives from Manulife and CIBC are here to help. Your local union hall is also available to answer questions at any time.