Contributions
To ensure your contributions are deposited, files and payment (or wire confirmation) must be received in good order by 11:00 a.m. ET on December 22 and December 29.
Key date: December 29 marks the cut off for the March to December 2023 RRSP contribution window and the cut off for reporting TFSA contributions.
Please remit your remaining 2023 contributions as soon as possible (including the ones for Age 71 members). This will ensure the amounts appear on your plan members' year-end statement and March to December RRSP receipts, if applicable.
Transactions processed on December 29 will require two business days to complete (i.e. custodial stock), and will therefore not be included in any 2023 reporting.
If you’ll be remitting negative contributions for DCPP, DPSP, ACPP, RRSP, or NREG, these amounts must be submitted and processed before December 29, 2023, as they can’t cross tax years.
Payroll deduction files
Payroll deduction files will be delayed on December 29. This means that payroll deduction files will not be available until January 2, 2024.
New members
If you’re remitting contributions for new members, it's important that Sun Life also receives their enrolment form as soon as possible but no later than December 20, 2023, to allow us time to process their enrolment.
The above deadline does not apply if you have online enrolment for your plan.
Address Updates / Incorrect Addresses
If your plan allows, members can submit an address change online until December 29. Otherwise, you should submit any address changes by December 20, 2023, to ensure year-end receipts and statements are sent on time.
Age 71 Members
All members that will be 71 years of age by year-end 2023, and who are currently participating in a registered product, must deregister these savings by December 29, 2023.
If you have members turning age 71 this year, you'll receive a separate email notification with a list of members.
We ask that all contributions for age 71 members be received prior to December 20, 2023.
Closures
GRS Administration will be closed on December 25, 26 and January 1 for the holidays.
GRS CCC will be closed on December 25, 26 and January 1 for the holidays.
Questions?
Contact your Sun Life Group Retirement Services representative.
