Let’s make the most of your future!
Canada Post has partnered with Canada Life to provide you with many convenient solutions and services to help you achieve your health and wealth goals. As a DC component member, you're responsible for reviewing the details below and taking some important first steps to ensure your DC Pension Plan is set up to meet your specific needs and goals. Review the information and resources below to complete your enrolment.
Register on My Canada Life at Work, your member website for both your savings and health benefits Plans. You can complete your enrolment, manage your retirement savings and submit your health claims in one location. Sign in to My Canada Life at Work to complete the important steps listed below.
Survivor benefits are payable to your designated beneficiary. You can designate anyone including your spouse, children (even if they're not of legal age), other individuals, or legally constituted organizations. If you don’t designate a beneficiary, survivor benefits will be paid to your estate.
There are two easy ways to invest.
- Select a target-date fund, a managed pool of pre-mixed investments that adjust to be less risky over time.
- Build your own asset mix by choosing from a range of funds.
The Voluntary Savings Plan (VSP) is a registered retirement savings plan (RRSP) administered on a group basis. Canada Post does not contribute to the VSP. Find more information about the VSP on My Canada Life at Work or cpcpension.com.
Book a one-on-one meeting with a licensed health and wealth professional. They’re dedicated to delivering personalized support to help you reach your goals. Whether you need help enrolling in the VSP, have questions about your Plans, or simply want advice on how to make the most of the resources available to you – your health and wealth consultant can help.
[MUSIC PLAYING]
Narrator: You’ve got goals for your financial, physical and mental wellness.
Description: An animated arrow swooshes across the screen to its target as the narrator’s words appear as on-screen text – grey words on a white background.
Narrator: But we know taking the first step can be difficult. That’s why we’re here.
Description: The animated arrow continues, swooshing across the screen once again before morphing into an animated walking person as the narrator’s words appear as on-screen text.
Narrator: We’ll connect with you one-on-one to help you get started, get comfortable and get working towards your goals.
Description: The screen switches to a video clip of a Canada Life member guide having a virtual call with a man, Alex, through her laptop. Alex is smiling and engaged in the conversation.
Narrator: Our team of member guides is made up of licensed health and wealth experts…
Description: The narrator’s words appear as on-screen text. This is timed with the narrator’s voiceover. This time white text pops against a bright red background.
Narrator: …With the knowledge and experience to help you make the most of your group plan.
Description: The screen switches to a video clip of Alex and his wife sitting on the sofa and working on his laptop while their two young children play in in front of them. The children (a boy and a girl, both under the age of 10) are playing with dinosaur toys.
Narrator: Once we’ve walked you through the basics…
Description: The narrator’s words appear as on-screen text – white words against a bright red background.
Narrator: …We’ll listen to learn more about your needs, lifestyle, aspirations and challenges…
Description: The screen switches to a white background. The animated arrow returns, swooshing across the screen before morphing into an animated clip board and check list. The narrator’s words appear as on-screen text and enter in alignment with her voiceover.
Narrator: Helping us determine a support strategy that’s right for you.
Description: The narrator’s words appear as on-screen text – white words against a bright red background.
Narrator: We’ll connect regularly to help you stay on track and ensure you get the continued support you need.
Description: The screen switches to a video clip of Alex speaking on a cellphone in his home office. It’s clear that this is another connection with a Canada Life member guide. Time has passed since his last interaction, however he remains interested and engaged in the conversation.
Narrator: Take the first step towards your future today.
Description: The next clip is of Alex back in his living room. He’s dancing with his two children, smiling and laughing as they step to the beat.
Narrator: Book an appointment with your Canada Life member guide online.It’s simple. It’s easy. It’s real.
Description: A laptop appears with on a white background. The laptop showcases a scheduling tool members can use to book their appointment with a member guide online. The fields on the screen begin to be populated with Alex’s information (his name, the date of his next appointment, the member guide he selects).
Narrator: Real people. Real connections. Real solutions.
Description: The swooshing arrow returns in the form of a white line that morphs into the “life” portion of the Canada Life logo (which takes up the majority of the screen). Once “life” has been fully spelled out, the logo decreased is in size and settles at the bottom centre of the screen with the following legal lines: ©2020 The Canada Life Assurance Company, all rights reserved. Canada Life and design are trademarks of The Canada Life Assurance Company. The narrator’s words appear as on-screen text – grey words against a white background.
[MUSIC PLAYING]
Narrator: You’ve got goals for your financial, physical and mental wellness.
Description: An animated arrow swooshes across the screen to its target as the narrator’s words appear as on-screen text – grey words on a white background.
Narrator: But we know taking the first step can be difficult. That’s why we’re here.
Description: The animated arrow continues, swooshing across the screen once again before morphing into an animated walking person as the narrator’s words appear as on-screen text.
Narrator: We’ll connect with you one-on-one to help you get started, get comfortable and get working towards your goals.
Description: The screen switches to a video clip of a Canada Life member guide having a virtual call with a man, Alex, through her laptop. Alex is smiling and engaged in the conversation.
Narrator: Our team of member guides is made up of licensed health and wealth experts…
Description: The narrator’s words appear as on-screen text. This is timed with the narrator’s voiceover. This time white text pops against a bright red background.
Narrator: …With the knowledge and experience to help you make the most of your group plan.
Description: The screen switches to a video clip of Alex and his wife sitting on the sofa and working on his laptop while their two young children play in in front of them. The children (a boy and a girl, both under the age of 10) are playing with dinosaur toys.
Narrator: Once we’ve walked you through the basics…
Description: The narrator’s words appear as on-screen text – white words against a bright red background.
Narrator: …We’ll listen to learn more about your needs, lifestyle, aspirations and challenges…
Description: The screen switches to a white background. The animated arrow returns, swooshing across the screen before morphing into an animated clip board and check list. The narrator’s words appear as on-screen text and enter in alignment with her voiceover.
Narrator: Helping us determine a support strategy that’s right for you.
Description: The narrator’s words appear as on-screen text – white words against a bright red background.
Narrator: We’ll connect regularly to help you stay on track and ensure you get the continued support you need.
Description: The screen switches to a video clip of Alex speaking on a cellphone in his home office. It’s clear that this is another connection with a Canada Life member guide. Time has passed since his last interaction, however he remains interested and engaged in the conversation.
Narrator: Take the first step towards your future today.
Description: The next clip is of Alex back in his living room. He’s dancing with his two children, smiling and laughing as they step to the beat.
Narrator: Book an appointment with your Canada Life member guide online.It’s simple. It’s easy. It’s real.
Description: A laptop appears with on a white background. The laptop showcases a scheduling tool members can use to book their appointment with a member guide online. The fields on the screen begin to be populated with Alex’s information (his name, the date of his next appointment, the member guide he selects).
Narrator: Real people. Real connections. Real solutions.
Description: The swooshing arrow returns in the form of a white line that morphs into the “life” portion of the Canada Life logo (which takes up the majority of the screen). Once “life” has been fully spelled out, the logo decreased is in size and settles at the bottom centre of the screen with the following legal lines: ©2020 The Canada Life Assurance Company, all rights reserved. Canada Life and design are trademarks of The Canada Life Assurance Company. The narrator’s words appear as on-screen text – grey words against a white background.
Canada Post automatically contributes 2%* of your earnings to your Pension Plan. When you maximize your contribution, Canada Post matches your money based on your age and years of service. The table below shows the additional savings you're entitled to from Canada Post :
|
Age + years of service = |
Canada Post contributes 2% of your earnings plus... |
|---|---|
|
Less than 35 |
75% of your contribution |
|
Between 35 and 44 |
100% of your contribution |
|
45 or more |
125% of your contribution |
Get step-by-step instructions on how to register for My Canada Life at Work. Get started at www.mycanadalifeatwork.com
[MUSIC PLAYING]
Description: This video uses footage of a plan member and the My Canada Life at Work website to show how to register for your benefits.
Narrator: Registering for My Canada Life at Work takes just a few minutes.
Description: A man sits on a couch while typing on his laptop in the living room.
Narrator: Go to mycanadalifeatwork.com
Description: Cut to the “Sign in” page of the My Canada Life at Work website displayed on a laptop screen.
Narrator: And click “Register.”
Description: The camera zooms into the screen as a cursor enters the frame and selects the “Register” button.
Narrator: Then select “Benefits” to manage your health and dental plan.
Description: The “Register” page is shown and the “Select” button is clicked underneath the “Benefits” section.
Narrator: Enter your plan and member numbers you received from your plan administrator, then choose “Next.”
Description: The plan number and member numbers are entered in the form fields. The “Next” button is clicked.
Narrator: Now enter your first and last name as they appear in your enrolment package.
Description: The “Account registration” page is shown. A progress bar with “Step 1 of 5” appears. The member’s first and last name are entered in the “Personal information” section.
Narrator: Next, you’ll add your personal email address and a password you’ll always use to sign in.
Description: Under “Sign in details,” the member’s email address and password are entered. They confirm their password then click “Register.”
Narrator: We’ll email you to make sure we got it right.
Description: Cut back to the man in his living room, browsing on his phone. A notification enters the frame with a mail icon that reads: “New message” and “Welcome to Canada Life.”
Narrator: After you confirm, you can sign in and complete your account setup.
Description: Cut to a confirmation page. The member signs in using their email address and password. They click “Sign in.”
Narrator: So we can verify your identity, enter a few more of your personal details, then click “Next.”
Description: The page returns to the account registration process. “Step 3 of 5” is displayed. The member scrolls down to the “Verify your identity” section and enters their birthdate, first name, last name and postal code. The “Next” button is clicked.
Narrator: Here you can let us know if we can use your social insurance number for our records.
Description: The progress bar advances to “Step 4 of 5.” The member clicks the check box to consent to using their social insurance number for tax reporting.
Narrator: You can also stay connected with us about ways to use your group plan and improve your physical and mental well-being.
Description: The cursor clicks a second check box to agree to promotions and marketing materials from Canada Life. The “Next” button is clicked.
Narrator: Finally, to keep your account extra safe, you can use two-step verification.
Description: The progress bar advances to “Step 5 of 5.” The member is prompted to turn on two-step verification. A radio button beside “Yes” is clicked.
Narrator: If you do, we’ll send you a five-digit code every time you sign in or change your password.
Description: The camera zooms out to display the page on a laptop. A phone enters the frame with a new notification: “New message from Canada Life.”
Narrator: That’s it.
Description: The My Canada Life at Work dashboard appears on the laptop and phone.
Narrator: Now you’re ready to use My Canada Life at Work for your benefits plan.
Description: Cut back to the man in his living room, smiling as he uses his phone to navigate the website.
Narrator: Go to mycanadalifeatwork.com to get started.
Description: Words “Go to mycanadalifeatwork.com to get started.” appears with Canada Life logo and legal lines: Canada Life and design and My Canada Life at Work are trademarks of The Canada Life Assurance Company. mycanadalifeatwork.com 1-800-957-9777
[MUSIC PLAYING]
Description: This video uses footage of a plan member and the My Canada Life at Work website to show how to register for your benefits.
Narrator: Registering for My Canada Life at Work takes just a few minutes.
Description: A man sits on a couch while typing on his laptop in the living room.
Narrator: Go to mycanadalifeatwork.com
Description: Cut to the “Sign in” page of the My Canada Life at Work website displayed on a laptop screen.
Narrator: And click “Register.”
Description: The camera zooms into the screen as a cursor enters the frame and selects the “Register” button.
Narrator: Then select “Benefits” to manage your health and dental plan.
Description: The “Register” page is shown and the “Select” button is clicked underneath the “Benefits” section.
Narrator: Enter your plan and member numbers you received from your plan administrator, then choose “Next.”
Description: The plan number and member numbers are entered in the form fields. The “Next” button is clicked.
Narrator: Now enter your first and last name as they appear in your enrolment package.
Description: The “Account registration” page is shown. A progress bar with “Step 1 of 5” appears. The member’s first and last name are entered in the “Personal information” section.
Narrator: Next, you’ll add your personal email address and a password you’ll always use to sign in.
Description: Under “Sign in details,” the member’s email address and password are entered. They confirm their password then click “Register.”
Narrator: We’ll email you to make sure we got it right.
Description: Cut back to the man in his living room, browsing on his phone. A notification enters the frame with a mail icon that reads: “New message” and “Welcome to Canada Life.”
Narrator: After you confirm, you can sign in and complete your account setup.
Description: Cut to a confirmation page. The member signs in using their email address and password. They click “Sign in.”
Narrator: So we can verify your identity, enter a few more of your personal details, then click “Next.”
Description: The page returns to the account registration process. “Step 3 of 5” is displayed. The member scrolls down to the “Verify your identity” section and enters their birthdate, first name, last name and postal code. The “Next” button is clicked.
Narrator: Here you can let us know if we can use your social insurance number for our records.
Description: The progress bar advances to “Step 4 of 5.” The member clicks the check box to consent to using their social insurance number for tax reporting.
Narrator: You can also stay connected with us about ways to use your group plan and improve your physical and mental well-being.
Description: The cursor clicks a second check box to agree to promotions and marketing materials from Canada Life. The “Next” button is clicked.
Narrator: Finally, to keep your account extra safe, you can use two-step verification.
Description: The progress bar advances to “Step 5 of 5.” The member is prompted to turn on two-step verification. A radio button beside “Yes” is clicked.
Narrator: If you do, we’ll send you a five-digit code every time you sign in or change your password.
Description: The camera zooms out to display the page on a laptop. A phone enters the frame with a new notification: “New message from Canada Life.”
Narrator: That’s it.
Description: The My Canada Life at Work dashboard appears on the laptop and phone.
Narrator: Now you’re ready to use My Canada Life at Work for your benefits plan.
Description: Cut back to the man in his living room, smiling as he uses his phone to navigate the website.
Narrator: Go to mycanadalifeatwork.com to get started.
Description: Words “Go to mycanadalifeatwork.com to get started.” appears with Canada Life logo and legal lines: Canada Life and design and My Canada Life at Work are trademarks of The Canada Life Assurance Company. mycanadalifeatwork.com 1-800-957-9777
Learn more about your Canada Post retirement program and the tools and resources that are available to you.
Title slide, Welcome to your Canada Post Corporation retirement program.
Agenda: Sources of retirement income, Your retirement program, Advantages of saving at work, Your investment options, Tools and support.
Next slide, Retirement income.
Government benefits, 2021 monthly benefit at age 65. Old Age Security (O.A.S.), $615, Basic benefit effective January 1 2021 (reviewed quarterly and revised as required to reflect cost of living); Canada Pension Plan (C.P.P.), $1,204, or, Quebec Pension Plan (Q.P.P.), $1,208, Basic effective January 1, 2021 (indexed annually); Potential monthly total, $1,819 to $1,823; O.A.S. pension repayment range in 2021 is from $79,054 to $128,149.
Next slide, Personal savings.
Your Canada Post Retirement Program.
Plans
Defined Contribution Pension Plan
Defined contribution (D.C.) - the amount of the contributions are known. The benefit from the plan is a combination of the contributions and the earnings.
Your Defined Contribution Pension Plan. Three boldened parts titled, Eligibility, What does Canada Post contribute, What do you contribute?
Under What do you contribute, Defaults at 4%.
Next slide, Defined Contribution Pension Plan, Contribution formula at a glance. Table with four columns and three rows. Three rows labeled Age + years of service, and columns with headers, Employer Base contributions, Optional Plan Member contributions, Employer Matching contributions, and Total. Less than 35, 2%, 4%, and 3%; Between 35 and 45, 2%, 4%, and 4%; 45 or more, 2%, 4%, 5%.
Your Voluntary Savings Plan.
Advantages of your retirement program
The power of a group plan. Start early, grow more, Easier way to save money, Reduce taxes, Pay yourself first, Diversified Fund line-up, Frequent systematic contributions, Increase contributions when you can, Maximize employer contributions, Take advantage of reduced investment management fees.
Benefit from payroll deduction, For example, $100 contribution minus $30 tax deduction, $70 your cost. Fine print, Based on a 30 per cent personal income tax rate, federal and provincial rates combined, Your personal income tax rate will change the size of your tax deduction and your cost of contribution.
Low investment management fees make all the difference. Two lines on a graph, one C.P.C. and the other Bank. C.P.C. line runs above Bank line.
Pre-authorized contributions make saving easy.
Choose your comfort with investing. Hands-off approach, BlackRock LifePath Target Date funds.
How a BlackRock LifePath Fund works. Graph titled Asset mix of BlackRock LifePath Funds, with Percentage equity to fixed income on y axis and Years to retirement on x axis. A line begins at the top at High risk and slopes downward to Low risk. Fine print, For illustration purposes only, the above chart illustrates the approximate percentages of holdings, Actual asset percentages will vary.
Easy to select a target date fund. Two-column table, Consider when you'd like to retire, and Choose your target date fund.
Build your own portfolio, three steps.
Your fund lineup
Support each step of the way
Make it personal, Connect with a member guide who can help you. can life dot co slash welcome
Text, Thank you
Title slide, Welcome to your Canada Post Corporation retirement program.
Agenda: Sources of retirement income, Your retirement program, Advantages of saving at work, Your investment options, Tools and support.
Next slide, Retirement income.
Government benefits, 2021 monthly benefit at age 65. Old Age Security (O.A.S.), $615, Basic benefit effective January 1 2021 (reviewed quarterly and revised as required to reflect cost of living); Canada Pension Plan (C.P.P.), $1,204, or, Quebec Pension Plan (Q.P.P.), $1,208, Basic effective January 1, 2021 (indexed annually); Potential monthly total, $1,819 to $1,823; O.A.S. pension repayment range in 2021 is from $79,054 to $128,149.
Next slide, Personal savings.
Your Canada Post Retirement Program.
Plans
Defined Contribution Pension Plan
Defined contribution (D.C.) - the amount of the contributions are known. The benefit from the plan is a combination of the contributions and the earnings.
Your Defined Contribution Pension Plan. Three boldened parts titled, Eligibility, What does Canada Post contribute, What do you contribute?
Under What do you contribute, Defaults at 4%.
Next slide, Defined Contribution Pension Plan, Contribution formula at a glance. Table with four columns and three rows. Three rows labeled Age + years of service, and columns with headers, Employer Base contributions, Optional Plan Member contributions, Employer Matching contributions, and Total. Less than 35, 2%, 4%, and 3%; Between 35 and 45, 2%, 4%, and 4%; 45 or more, 2%, 4%, 5%.
Your Voluntary Savings Plan.
Advantages of your retirement program
The power of a group plan. Start early, grow more, Easier way to save money, Reduce taxes, Pay yourself first, Diversified Fund line-up, Frequent systematic contributions, Increase contributions when you can, Maximize employer contributions, Take advantage of reduced investment management fees.
Benefit from payroll deduction, For example, $100 contribution minus $30 tax deduction, $70 your cost. Fine print, Based on a 30 per cent personal income tax rate, federal and provincial rates combined, Your personal income tax rate will change the size of your tax deduction and your cost of contribution.
Low investment management fees make all the difference. Two lines on a graph, one C.P.C. and the other Bank. C.P.C. line runs above Bank line.
Pre-authorized contributions make saving easy.
Choose your comfort with investing. Hands-off approach, BlackRock LifePath Target Date funds.
How a BlackRock LifePath Fund works. Graph titled Asset mix of BlackRock LifePath Funds, with Percentage equity to fixed income on y axis and Years to retirement on x axis. A line begins at the top at High risk and slopes downward to Low risk. Fine print, For illustration purposes only, the above chart illustrates the approximate percentages of holdings, Actual asset percentages will vary.
Easy to select a target date fund. Two-column table, Consider when you'd like to retire, and Choose your target date fund.
Build your own portfolio, three steps.
Your fund lineup
Support each step of the way
Make it personal, Connect with a member guide who can help you. can life dot co slash welcome
Text, Thank you
Building the right savings and investment skills and habits can help you enjoy the here and now while planning for your future.