Fast facts on service
June 01, 2012
Teachers' ranked first in its annual benchmark rankings. Here's a snapshot into the numbers behind the ranking.
In 2011, 3,000 of the plan's 368,000 members started their pensions, bringing the total number of retired members to 120,000. That's triple the number of pensioners we had in 1990.
Go behind the scenes with Rosemarie to see how Teachers' delivers such great service.
With more and more members considering retirement, the plan faces an increasing number of member inquiries and requests for guidance. In 2011, Teachers' interacted with members more than 395,000 times – that's more than double the 177,000 member interactions we had in 2010.
The majority of those requests were resolved within the same day as the inquiry.
Teachers' responded to member phone calls, on average, within 24 seconds. As Rosemarie McClean, Senior Vice-President, Member Services, says, "that's a couple of rings."
But speed isn't our primary focus. Being able to provide accurate information in a timely manner is paramount. In 2011, 89% of responses to inquiries were right the first time. This is a measure of how often complex requests (typically involving multiple departments and manual calculations) are processed correctly the first time.
Nearly 90% of requests were resolved by our pension benefit specialists without assistance from other departments.
Balancing costs with timely and reliable service is a key consideration for Teachers'. The cost of service delivery per member decreased from $146 to $143 in 2011. Three dollars may not seem like much, but in the big picture it represents more than $1.1 million in savings.