December 2018 Edition

Starting in January 2019, the essential will sport the style and colours of our new brand image. Its content will also feature mobile-friendly responsive design that will automatically adapt to the reader’s smartphone, tablet or computer.

What else is new?

• Current and archived articles will now be housed at desjardinslifeinsurance.com, which will make it easy to find articles in previous issues.
• Pictograms at the top of the email will make it easy to browse through the newsletter.
• Some documents will no longer be published in the newsletter. This includes the Investment Info bulletin, which will only be available in the Investment section of the secure plan sponsor site. Subscribers who don’t have access to this site can see the rates of return at desjardinslifeinsurance.com.
• Its content will be accessible for the visually impaired.

We hope that you will all continue to enjoy the newsletter!

Your Group Retirement Savings team

Online enrolment through the Member services website is the latest transaction to receive a major overhaul. The process is now entirely mobile. Plan members can enrol in their plans online using the device they prefer: cell phone, computer or tablet. A cleaner look and streamlined steps create an improved member experience.

In addition to online enrolment, new features on the site include:

Your Transactions tab (if offered by plan)

• Change investment instructions and make interfund transfers

Your account tab

• Investor profile

Several years ago, Desjardins Insurance’s group retirement savings team started making changes to clarify and simplify financial information for plan members. Every day we try to deliver understandable, comprehensive and relevant information that will help our plan members focus on planning for their retirement, not deciphering financial jargon.

With this in mind, we have developed educational videos that address topics we often hear about without necessarily understanding what the benefits are or how to use them.

The first educational video will be launched in January. Designed for RRSP holders, it explains in less than a minute and a half how the "first 60 days rule" works and what it can be used for. In plain language, with a clear structure and a clean look, it makes it easier for the audience to understand the key messages.

This video will be made available starting on January 9.

For plan members:

• An email to holders of a group RRSP with Desjardins Insurance
• A message posted on the Message Center of the Participant Services website
• A communication that you can post on your intranet, with a link to the video

For plan sponsors:

• Through the Message Centre on the Plan sponsor services website

Participants have until March 1st, 2019, to contribute to their RRSP and choose to deduct contributions made from January 1st to March 1st, 2019 from their 2018 taxable income (and potentially receive a tax refund) or deduct them from their 2019 taxable income.

Desjardins Insurance will have to receive contributions and contribution files at the latest on March 1st so that the contributions will be included on the RRSP receipts for the first 60 days of the year.

Online lump sum and reccuring contributions: a quick and efficient solution

Participants can now go online to make their contributions that are not taken directly from payroll. With the Lump-Sum and Recurring Contributions section, participants can now set up pre-authorized debits directly from their bank account. Please note that online contributions are not allowed for DCPPs and SPPs1.

Participants can also send us a postmarked cheque by March 1st, 2019. It is important that they write their full name, group and plan participant number on the back.

Tax receipts and tax slips

Your participants can get duplicates of their tax receipts and tax slips online in the Your Account section of the secure participant services site at dfs.ca/participant External link. Opens in a new window..

Please print this poster and put it up where employees can see it to promote the contest. Two formats are available:

8.5 x 11 in (21.6 x 28 cm) (PDF, 736 KB) Opens in a new window. and 11 x 17 in (28 x 43 cm) (PDF, 1.4 MB) Opens in a new window.

This contest is open to all Desjardins Insurance group retirement savings plan members 2.

How to win? Members have to watch their personalized video or update their information in On Target Retirement at dfs.ca/participant, between December 1, 2018 and March 1, 2019. Once they do, they’ll automatically be entered in the contest. Three draws will be held, on January 7, February 7, and March 7, 2019. At each draw, we will select one winner who will receive a prize of $1,000.

Need more information? Call us at 1-888-510-4762 This link will launch your default phone software. or talk to your Customer Relationship Manager.

Good luck to everyone!

December 2018 - Early January 2019

December 17: Update of the addresses: Updating plan member addresses and RRIF and LIF payments of the week

We’re in the process of preparing December financial statements, and we want to make sure that all plan members who choose to receive paper copies actually receive their statements. To do that, we need their current addresses. You can help us by reminding your plan members to update their addresses themselves on the Participant Services website, or you can do it for them on the Plan Sponsor Services website.

• Participant services website (dfs.ca/participant External link. Opens in a new window.): Plan members can update their addresses by clicking on their name at the top right of their screen and then on Your profile. This will bring them to the Profile page, where they can scroll down to click the Edit button at the bottom of the Information box.
• Plan sponsor services website (dfs.ca/plansponsor External link. Opens in a new window.): You can click on Participant management. Search for the plan member whose address has changed and correct it.

If you have a lot of changes, you can also send us the information in a standard demographic file. Please contact your client relationship manager or plan sponsor services at 1-888-510-4762 This link will launch your default phone software. for more information.

Thank you for helping us keep plan member information current.

RRIF and LIF payments that fall on a holiday will be issued as follows:

• Scheduled payments of December 23 and 24 will be processed on December 23 and 24 and Deposit date into plan members' account will be made on December 27.
• Scheduled payments of December 25 and 26 will be processed on December 27 and Deposit date into plan members' account will be made within 24 to 48 hours.
• Scheduled payments of December 30 and 31 will be processed on December 30 and 31 and Deposit date into plan members' account will be made on January 2.
• Scheduled payments of January1 will be processed on January 3 and Deposit date into plan members' account will be made within 24 to 48 hours.
• Scheduled payments of January 23 will be processed on January 3 and Deposit date into plan members' account will be made within 24 to 48 hours.

Contest: Your engagement is key. Encourage your members!

December 21-22-23: Recommended deadline for withdrawal (December 21)

All online withdrawal requests by plan sponsors and plan members must be submitted no later than December 21 to be processed before the 2018 tax slips are produced.

December 24: RRIF and LIF payments of the week

December 25: Closed

December 26: Closed

December 27: Deadline for deposits to all plans

Deposits must be made by December 27 to be processed before the 2018 tax slips are produced.

December 28-29-30: Deadline for missing enrolments

It is very important to remind your participants to complete their plan enrolment as quickly as possible, if they have not already done so. If they fail to complete their enrolment, the following consequences may occur:

• An RRSP or TFSA enrolment that is missing will not be registered with government authorities. Contributions will be invested in a temporary fund that pays no interest, and in the case of the RRSP, no tax receipt will be issued for 2018.
• In the case of a VRSP, as enrolment is automatic, these consequences do not apply.
• In the case of a non-registered plan, the requirements related to anti-tax evasion will not be respected and no tax slips will be issued.

In all these cases, including SPPs, DCPPs and DPSPs, the investment instructions, beneficiary designation and consent for the collection, management and use of personal information are also missing.

Your collaboration is therefore essential to help your participants avoid unpleasant situations.

Consult our Missing Information Report: The Missing Information Report4 lists any information we do not have on file. It's available every month, if needed, on the Plan Sponsor Services website at dfs.ca/plansponsor.

To review it, go to the Report Center tile and then open the Missing Information Report tab. You can update missing information in a participant’s file by clicking on the Participant management tile, or you can send us a demographic file with all the missing information.

December 31: RRIF and LIF payments of the week

January 1: Closed

January 2: Plan Sponsor Service CLOSED

Holiday schedule for the Customer Contact Centre and Plan Sponsor Service:

• December 26: closed
• December 27, 28 and 29: open from 8:00 a.m. to 8:00 p.m.
• January 2: Customer Contact Centre open - Plan Sponsor Service closed
• From January 3 onwards: return to regular schedule

Are you planning to go on vacation this winter? Good for you! But remember to:

1. Fill out the Authorization to access plan and/or personal participant information(PDF, 1.4 MB)  Opens in a new window. form to designate the person who’ll be in charge of your tasks while you’re away, and to also authorize their level of access to the Plan sponsor services website.

   Make sure to complete this authorization form so the designated person has their own access codes. You can’t share access codes because, for security reasons, we won’t be able to answer the caller’s questions if they’re not registered in our system, or if they’ve lost your access codes.

2. Train the person replacing you so they can complete the following tasks:

   • Enrolment
   • Changing personal information
   • Termination of employment
   • Contribution remittance

Every December: send a communication to employees who opted out of the plan As set out in the VRSP Act, employees who opted out of the VRSP5, or who have stopped contributing along the way, must be invited to participate again, in December, once two years have elapsed.

For example:

• John stopped contributing to his VRSP in April 2016, which means you have to invite him to start contributing again in December 2018.
• Stephanie stopped contributing in July 2017, so you have to invite her to start contributing again in December 2019.

Here’s a sample message (DOCX, 28 KB) Opens in a new window. you can use.

January 2019: increase the default contribution rate to 4%

Since January 2018, the default contribution rate for the VRSP has been 3% of an employee’s gross salary, unless otherwise specified by them. As set out in the VRSP Act, the rate will be increased to 4% in 2019. Here’s what you need to do:

• Apply the 4% default rate to all new VRSP plan members, unless otherwise specified
• Increase the default rate from 3% to 4% for all active plan members, unless otherwise specified
• Make any necessary updates to your payroll system or communicate with your payroll provider, if applicable

Here’s a sample message (PDF, 31 Ko) S’ouvre dans une nouvelle fenêtre. (WORD DSFEP_0812_augmentation_taux_EN) you can use to inform plan members of the rate increase. For more information, please contact plan sponsor services at 1 844 499-7837 or email gsr_plansponsor@dfs.ca.

Departure at Mirova

On November 13, 2018, Mirova, the sub-advisor of Desjardins SocieTerra Environmental Bond Fund, announced the departure of Chris Wigley, portfolio manager on the team. Although Chris Wigley was the manager identified to manage the fund, Marc Briand, head of the fixed income team at Mirova, has always been very involved in managing the mandate. Talks have already begun with some potential candidates to replace Chris on the team.

Manager changes at DGIA

On November 14, 2018, DGIA assigned a new manager for the DGIA Global Commodity Fund. Tony Beaulac will become the Manager on November 30, 2018 and will continue to be supported by Sofiane Tafat and Fouad Kouidmir. The mandate will be fully managed by the Desjardins International Asset Management Tactical Asset Allocation Team under the responsibility of its co-Chief Investment Officer, Christian Duceppe.

For Québec:

The Regulation Respecting Supplemental Pension Plans (Québec) has been amended to take into consideration the payment of variable benefits from a defined contribution pension plan for the calculation of the maximum life income and the maximum temporary income of a LIF. Holders of a Québec LIF will be informed of this change through their annual statement.

For Newfoundland and Labrador:

The Newfoundland and Labrador Superintendent of Pensions has amended Directive Number 5 on LIFs following the legislative changes to the Pension Benefit Act, 1997. Holders of a LIF in Newfoundland and Labrador will no longer be required to convert the LIF into an annuity when they reach age 80. In addition, the calculation of the maximum life income has been modified. Holders of a LIF in Newfoundland and Labrador will be notified of these changes by registered letter, as required by the Superintendent.

To learn more about the changes in Newfoundland and Labrador, you can read the Superintendent's memo External link. Opens in a new window..