Salary update

  • Yves Mc Nicoll
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The importance of updating participants' salaries

To whom it may concern,

Short and Long Term Disability Payments based on participant salaries. It is important that participant salaries are updated regularly, otherwise the amount of benefit payments will not be based on real wages.

On the monthly report, the salary of plant employees is recorded In many cases, the number of employees not subject to the tax does not appear.

As administrator of the scheme, we are responsible for transmit salaries and maintain accurate and up-to-date records on all insured participants with Industrial Alliance. You must inform us of any changes to pay as soon as possible, failing which increases in Unreported earnings will result in benefits of less than what they should be.

It is important to note that if you fail to update the salaries, you could be held responsible.

If you have any questions about this letter, please feel free to contact us.