Back to communiqués

It’s important to update your plan members’ salaries

News Release

Death benefit payments and short- and long-term disability benefit payments are typically based on plan members’ salaries. Therefore, it is vital that your plan members’ salaries be updated on a regular basis. Otherwise, benefit payments will not be based on the correct salaries, which might have negative consequences for your plan members.

As plan administrator, you have the responsibility to provide us with salaries according to the definition of salary stipulated under your contract and to maintain accurate and current information for all of your plan members insured with iA Financial Group (Industrial Alliance Insurance and Financial Services Inc.). Thus, you must inform us of your plan members’ new salaries as soon as there is a change. Failure to properly report salary increases will result in benefit payments being lower than they should be.

If you can process transactions in My Client Space, you can update the salary directly in the plan member’s personal file simply by following the steps below:

  1. Perform a member search and access the plan member’s personal file
  2. From the left-hand menu, under Update Member Information, click on Edit Salary
  3. Update the salary amount and salary basis, enter the effective date, and click on Ok

You can also complete the Notice of Change form (F54-020A) and send the completed document to us within 31 days of the salary change. This form is available on our website at ia.ca/business/forms, in the Administration – Forms and Return Envelopes section.

Please be aware that if you fail to update your plan members’ salaries, premium payments will not be accurate and could lead to potential liabilities for the employer.

If you have any questions, please contact your advisor or your iA Financial Group Account Executive.


Our online tools make group insurance plan administration easier!

Remember that you can manage your group insurance plan directly in My Client Space, our secure website. It’s quick, easy and practical!