To continuously improve the participant experience, we have recently completed two important changes to the online enrolment process. By simplifying this process, participant engagement will also be improved.
Electronic beneficiary designation
Since last November, participants who enrol online can designate their beneficiary(ies) without having to provide a wet signature (certain exceptions apply). The electronic beneficiary designation simplifies the process for participants by eliminating the need to mail their form.
Simultaneous process for multiple plan enrolment
Recently, a second milestone has been reached with the implementation of a simpler process for participants who have to enrol in multiple plans (compulsory RSP and DPSP). We have eliminated the risk that participants who enrol online won’t enrol in one of the plans, and the governance activities associated with it.
Ultimately, these improvements will result in time savings not only for participants, but also for plan sponsors as there will be fewer follow ups.