Pension Plan Member FAQ

Transition to New Pension Administrator

• Why are we changing the Pension Plan administrator?
  The Pension Board is responsible for the oversight of the administration and operations of the Plan and they outsource certain administrative and record-keeping responsibilities to a third-party service provider. The change in administrator is a result of the Pension Board’s commitment to invest in administrative and financial services to meet the evolving needs of Plan members and to improve the Plan Member experience, as set out in the Pension Board’s 2022-2024 Strategic Plan.
• Who is the new Pension Plan administrator? 
  The new pension plan administrator is Aon Solutions Canada (Aon). With more than 50 years' experience in defined benefit pension plan administration, Aon is a global provider of retirement, health and risk solutions.
• When will the transition take place?
  The transition will occur on December 1, 2024.
• Will there be any changes to my pension benefits?

  No, your pension benefits will remain the same. The transition only affects the administration of the Plan, not the Plan provisions that determine your pension benefit.

  If you are already receiving your pension payment, you can rest assured that this transition will not cause any disruption or change to your monthly pension payment.

• How will this transition affect my current pension contributions?
  Your current contributions will continue without interruption. There will be no changes to the rate or frequency of your contributions.
• Will I need to take any action during the transition?
  No, there is no need to complete a new Pension Enrolment Form or re-appoint your beneficiary designation. Your pension information and any valid beneficiary designations will be automatically transferred to Aon. You will be able to review this information in the online portal when it is live.
• How can I access my pension information with the new administrator?

  Your CFMWS employee number will remain your personal identifier with Aon. In December, eligible members will receive a brochure with instructions on how to access Aon’s online portal. This portal will provide you with easy access to your pension details, beneficiary designation, recent annual statement, and other important information.

  We regret to inform you that the online pension portal will not be accessible to surviving spouses of retirees. Details on contacting Aon Pension Administration Services will be provided in December.

• How is my personal information being protected during this transition?
  Pension member information will be transferred from one service provider to the other via a secured file transfer site that meets the security requirements for handling Protected B information. Rest assured that all of your personal information will continue to be handled in accordance with applicable privacy laws.
• What are features of the new online portal with Aon?

  On the new portal, you will be able to:  

  • Access and update your pension information  
  • Appoint a pre-retirement beneficiary designation with the acceptance of digital signatures.   
  • Access a self-serve pension estimator tool which will have near live payroll data and features to customize the projection estimate (available Spring 2025).  
  • Access annual statements and pension correspondences.  

  Please note, that as we transition to Aon, the self-serve online estimator to project your pension will be offline from December 1, 2024 to Spring 2025 – exact date to be confirmed. Further details will be provided closer to the launch date.

• Will this transition impact the availability of currently available online tools?
  Following the transition to Aon, we will be working closely with them to build a new Pension Estimator tool, which will be available by Spring 2025. If you are contemplating retirement, we encourage you to plan accordingly and use the current pension estimator tool ahead of December 1, 2024. Further details will be provided closer to the launch date.
• Will I continue to receive my annual pension statement?
  Yes, the annual pension statements will continue to be issued at their current annual frequency. The next pension statement will be mailed to you and also be available online in Summer 2025. Stay tuned for a new look!
• What steps are being taken to ensure a smooth transition?
  We are working closely with both the current and new administrator to ensure a seamless transition of administration services. This includes securely transferring all necessary data, testing the new system, and providing training to the local HR Offices.
• I’ve submitted my retirement or termination notice, will this transition impact my retirement or termination?

  No. If you have submitted your retirement or termination notification and you have not yet received your options package or benefit payment at time of transition, your file will be closely monitored by the Pension and Benefits Team to ensure secure transfer and timely processing.

  You can help facilitate the process by providing any outstanding paperwork to Coughlin as quickly as possible. If there are documents that are to be returned, please return them in the envelope provided by Coughlin, who in turn will securely transfer all items in progress to Aon as of December 1, 2024.

• How will I be informed about updates during the transition?
  We will provide regular updates through mail or email, CORE and cfmws.ca/pension. Please ensure your contact information is up to date to receive these communications.
• Will there be employee information sessions about this transition?
  When the new pension portal is live, there will be a prerecorded webinar with details on how to sign in and what the features are. Once the pension estimator is launched, there will be a live employee webinar to demonstrate the portal and pension estimator. This webinar will show employees how to navigate the new portal and present the new resources available to them.  The date of the information session will be confirmed at a later date.
• Who can I contact if I have questions about the transition?

  Any questions about the transition should be directed to your local HR Office or the Pension and Benefits team at [email protected].

  The current administrator, Coughlin & Associates, remains available to answer any questions about your Pension Plan until November 29, 2024.

• When will Aon's contact information be available?
  Contact information will be made available prior the transition's effective date. A letter will be mailed with details on how to contact Aon and a phone number will also be published on CORE for current employees and on CFMWS.ca/pension.