Planning for retirement is now a lot easier, thanks to a new self-service option for active pension plan members.

Accessible via a secure online website, this retirement planning tool enables members to view in real time personal pension information, such as current account values and beneficiaries.

Members can now run and compare projections of their Queen’s pension based on their own retirement scenarios, explains Bob Weisnagel, Director of Pension Services. “This is a first for Pension Services and we are very excited to be introducing this new site to the community. Members can compare various pension options and see the impact that different guarantee periods and spousal survivorship percentages may have on the amount of their monthly benefit.”

Accessed via the benefits tab on MyHR, the site features personalized pension-related information such as historical contributions, pensionable salary and access to the member’s personal annual pension statement. Links to forms and useful information available through the Human Resources website are also included. These are supplemented with key external planning sites, including the Canada Pension Plan (CPP), Old Age Security (OAS) and the Canada Revenue Agency (CRA) tax calculator that are just a click away. (Please note, your web browser must be configured to allow pop-ups in order to use the system).

“Employee self-service functionality and access to electronic copies of the annual pension statements have been on our radar for some time and have been frequently requested by members,” Mr. Weisnagel says. “We are delighted to now be able to meet that request.”

The launch of the new site is the final piece of an 18-month system replacement project with the plan’s new administrative consultant Aon Hewitt, a global provider of human resources services.

Those interested in attending a demonstration of the pension portal are invited to attend one of two Lunch & Learn sessions on Tuesday, June 14 and Tuesday, June 21. To register, visit the Learning Catalogue.

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