Remember to update your plan members’ salaries
While it may seem like a trivial task, forgetting to update plan members’ salaries could have undesirable consequences.
Salaries usually determine plan members’ life insurance and short- and long-term disability benefits. If you fail to notify us of a change in salaries:
- Unreported salary increases could result in lower benefits paid than expected.
- Your organization could be held liable for these lower benefits.
To avoid this situation, you must send us the salaries according to the definition of salary provided in the contract and notify us without delay of any salary changes.
In My Client Space, it’s very simple:
Update the salaries of multiple plan members with salaries changing on the same date:
- In the left-hand menu, under Administrative Functions, click on the dropdown menu and choose Mass Salary Change.
- Follow the steps.
Update the salary of one plan member at a time:
- Look up the plan member and access their personal record.
- In the left-hand menu, under Update Member Information, click on Edit the salary.
- Enter the information on the new salary.
You can also complete the Notice of Change (F54-020A) form and send it to us within 31 days following the salary change. This form is available at ia.ca/business/forms, in the Administration – Forms and Return Envelopes section.