Starting now, Sun Life will be able to enrol employees without them filling out a formal Sun Life enrolment form, provided certain conditions are met.

We’ll be able to enrol them into a Registered Retirement Savings Plan (RRSP) or a Tax-Free Savings Account (TFSA), if you provide us with the required employee demographic information.

This is due to a change in position from the Registered Plans Directorate of the Canada Revenue Agency.

Some examples of when this method of enrolment might make sense for you are:

  • When you’d like to make enrolment into an RRSP or TFSA a condition of employment (sometimes referred to as auto-enrolment)
  • When employees have the option to allocate a portion of their Flex Benefits to an RRSP or TFSA
  • When employees have the option to allocate their bonus to an RRSP or TFSA

Under this method of enrolment, you’d need to provide some minimum required information to employees and collect their consent to:

  • Enrol them into an RRSP and/or TFSA
  • Set up payroll deductions from their pay
  • Share their personal information with Sun Life so we can enrol them in the plan

Please note that we can’t take your direction to enrol the spouse of an employee.

If you want to take advantage of this new capability or have questions, please reach out to your GRS representative.