Ending Employment at Western – Pension Information

If you are unsure whether you participated, you can check using the following methods:

My Human Resources

• Sign in to My Human Resources > Pay > View Earnings Statement.
• Under Before-Tax Deductions, look for “Staff Pension Plan” or “Faculty Pension Plan.” If listed, you have participated in the Western Pension Plan and have an account with Sun Life.

T4 Slips

Review your past T4 slips. If amounts are reported in Boxes 20, 50, or 52, you have participated in the Western Pension Plan and have an account with Sun Life.

Once your pension plan membership has ended, it will be important to inform Sun Life of any changes to your home mailing address and telephone number and to ensure that Sun Life has your personal email address.  You will need make these updates directly with Sun Life.

As the recordkeeper for  the Western Pension Plan, Sun Life will be in touch with you to provide information regarding your pension options and funds.

To update your email address and sign-in credentials
To make sure Sun Life can stay in touch with you, ensure your preferred email address with them is your personal email address. Go to mysunlife.ca. Once you have signed in, select Profile at the top of the page. Then select Contact information, add your personal email address and check it to confirm it’s correct. Make sure you click the box saying Make this my Sign-in ID and preferred email.

You are responsible for taking action or deferring decisions on your account.

You can wait until you receive your Options Package from Sun Life. Once received, you should review the information carefully and make your selection within the timelines provided. If you do not make a decision, your savings remain in the plan and may be subject to an additional administrative fee.

Regular full-time employees, including professional staff with benefits:
Your membership ends when your employment ends. Once your final contributions have been deposited, Western notifies Sun Life that your membership has ended.

Other employment types, including part-time, contract, temporary, or GTA roles:
Your membership ends 6 months after your last contribution. Some part-time Faculty members may have an 18-month period instead.

After this period, Western notifies Sun Life that your membership has ended.

• Western notifies Sun Life that your participation in the plan has ended.
• Sun Life prepares a pension settlement Options Package.
• This package is typically available within your Sun Life account under Documents approximately 3-6 weeks after your membership ends.
• Sun Life will notify you by email or mail once it is ready.

To access your documents:

• Sign in to Sun Life and select Manage Plan > View Documents, or
• From the Document Centre, under the Icon on the top right corner.

• Sun Life posts your Options Package to your online account once it is ready.
• If you have opted for paperless delivery, you will receive an email notification.
• If your email address is not valid or you have not selected paperless delivery, Sun Life will send a letter by mail notifying you when your package is available.

If your total account balance is less than $1,000 at the time your membership ends:

• Sun Life will automatically issue a cheque, delivered by mail, to settle your account.
• Applicable income tax will apply, and a tax slip will be issued.
• If you prefer a tax-deferred transfer to a personal RRSP, you have three weeks from the cheque date to contact Sun Life at 1-877-SUN-LIFE (1-877-786-5433).

Please ensure Sun Life has your current mailing address and follow up with them if needed. See question above "How do I update my contact information with Sun Life?"

Western applies a semi-annual fee of $200 (in January and July) for individuals who leave their pension savings in the plan after their employment ends. This fee does not apply to members who retired from Western. Sun Life will withdraw this fee directly from your Pension account on Western’s behalf.

Call 1-866-733-8612 on business days between 8 a.m. and 8 p.m. or sign in to your Sun Life account at mysunlife.ca/western.