Then and Now: your secure service
January 21, 2014
In 2013, the number of members registered for our secure member website, surpassed 200,000. Since launching the site, we've continued to expand and improve the service offered throughout it. Here are a few of the enhancements we've made with you in mind:
Greater access to pension calculator
Then: You needed at least one school year under your belt with a long-term occasional (LTO) contract to use the pension calculator.
Now: As long as you have at least one school year with some service on record, regardless of how many days, you will be able to access the calculator and create pension scenarios.
You can find the pension calculator by signing in, and clicking the "My Retirement" tab. While there, you can create and compare up to five scenarios per session to paint your retirement picture.
Tip: Watch "What to expect: Pension estimates" for a step-by-step guide to using the pension calculator. You can find the video in the Reference Library.
Advice to help you select the best survivor pension for your loved one
Then: Choosing a survivor option was left to the pension application
Now: We now provide online counseling to help you choose the best survivor pension option.
What does this mean? When you die, your eligible spouse or eligible children are entitled to receive benefits to help them maintain financial security. The type and amount of benefit depends on your credit in the pension plan, and whether you die before or after retirement.
First, we recommend that you choose the highest survivor pension option long before you are ready to retire. By doing this, you may avoid needing a medical exam. You should select this option at least two years before retirement or age 63, whichever is earlier. This ensures you will have all options available regardless of your health at retirement.
Second, when you are ready to retire, we have added a few questions within the survivor pension section of the retirement application to learn more about your personal situation. These questions will help you decide how much of your pension should be designated to your loved one. For example: is your loved one financially dependent on you? If your answer is yes, we recommend giving them a higher percentage of your pension. If your answer is no, we recommend giving them a smaller percentage of your pension.
To update your survivor pension option before applying for your pension, sign in and select "My Profile" from the "My Home" tab. Expand the Marital Information section to view and edit your option.
Updating your banking information online
Then: If you were receiving a Teachers' pension and had to update your banking information, you had to notify us in writing, either by fax or mail.
Now: You can sign in and update your Canadian banking information online. Once you're retired, just visit your Pension Payments page or your Profile page to make the change.
When you update your information, we'll send you an email confirmation. This email serves two purposes:
- reassures you that the change you've requested has been made, and
- adds an additional layer of security by confirming that it was in fact you that requested the change.
Personalized retirement presentations
Then: We provided you with a generic checklist of documents that you would have to update your file with before you could collect your first pension payment.
Now: We've created a personalized presentation called "Three Steps to Retirement" that walks you through the retirement process. It also tells you which documents we require on your personal file. You can view the presentation in the "My Retirement" section.