This change means the premium tax rate will change from 3.48% to 3.30% effective April 1, 2022.

What this means for you and your employees:

  • Your next renewal will reflect this change in premium tax rates.
  • After April 2022, financial statements for refund accounting arrangements will include a prorated tax rate. It will be calculated based on the tax rate effective for each month.
  • Your April 2022 ASO statement/invoice, issued in May, will show the reduced tax rate. The ASO statement/invoice will display the factor used to calculate the tax payable. The factor for Quebec premium tax is 3.413%, down from the previous 3.60%.

Questions? We’re here to help.

If you have fewer than 50 employees, please contact your Client Service Administrator at 1-877-786-7227.

If you have more than 50 employees, please contact your Sun Life Group Benefits representative.