iAtoday

Life insurance and short- and long-term disability benefit payments are usually based on plan members’ salaries. Keeping salaries up-to-date is therefore essential.

Group insurance plan administrators are responsible for providing us with salaries based on the definition of “salary” set out in the contract and for maintaining accurate and up-to-date information.

Whenever there is a change in members’ salaries, plan administrators must inform us. If they don’t, unreported salary increases may result in benefit payments that are lower than they should be.

If a plan administrator fails to update salaries and, as a result, the benefits paid are not based on members’ actual salaries, the employer could be held liable.

A communiqué will be sent to group insurance plan administrators on April 26 to inform them.

Read the French version of the communiqué.