Please note that retiree benefits have changed, and new optional benefits are now available, with the University’s move to a new insurance provider on July 1st, 2020.
Pension Plan News from December 2022 letter
Manulife Benefits at a Glance:
Retirements as of July 1 2020 and later
Retirements before July 1, 2020
The return for the Plan year ending August 31, 2021 was 18.07%. As a result, most pensioners received increases of approximately 2.5% or 3% (depending on date of retirement) effective September 1st.
Queen's will no longer be providing monthly return information to pensioners. Due to the complexity of the consolidated fund return calculation, UPP will not provide monthly return information to Queen’s, however, will publish the annual fund rate of return in its annual report and financial statements. We may also see quarterly updates. The annual pension adjustment for Queen's pensioners will continue to be communicated in late November or early December each year.
The UPP has total assets of $11 billion (Queen's, Toronto, Trent, and Guelph).
For more information on UPP, including investment policies, please visit their website at myupp.ca.
FAQ for Retirees
Q -Where can I find details of my current benefit coverage?
A-You can access information about your current elections and coverage through the “Coverage Details” section of the Manulife Plan Member site. You may also call the Manulife Customer Care Centre at 1-800-268-6195, Monday to Friday from 8:00 a.m. until 8:00 p.m.
Q-Where should I direct specific questions related to my claims for reimbursement?
A-The Manulife Customer Care Centre is your main point of contact for answering specific claims related questions. You can reach them by phone or through the “send a note” feature on the Manulife Plan Member Site.
Q-Where can I obtain a pay direct drug card?
A-A pay direct drug card is available for retirees participating in the Extended Health plan. To request a pay direct drug card, please contact the Manulife Customer Care Centre. You may also print this card on the Manulife Plan Member Site under “My Benefits – Benefits Card”.
Q-Is it mandatory that I submit my prescription claims through the Ontario Drug Benefit (ODB) program and Exceptional Access program (EAP) prior to submitting them to Manulife?
A- Manulife requires that the application be made first to the ODB and/or EAP program to determine whether the provincial plan will pay them as these programs are always first payer. Any remaining balance can be submitted to Manulife.
Q-Who should I contact to make any changes to my personal information, such as my address?
A-Please ensure that personal information updates are made with both Queen’s University and Manulife as this information is not shared. This will ensure timely delivery of important information. Remember to provide any changes in your address to CIBC Mellon (1-800-565-0479) as well, if you are receiving a University pension.
Q-How do I make changes to my benefit coverage, including changes to dependents and beneficiaries?
A-Should you require a change to your coverage, please contact the Manulife Customer Care Centre for assistance.
Q-What is the monthly deduction that is being debited from my account by Queen's?
A-Your benefit premiums are deducted on a monthly basis at the end of each month. A breakdown of your premiums can be found on your Coverage Statement under the Coverage Details on the Manulife Plan Member. The premium total is shown as a yearly amount and should be divided by 12 to obtain the total monthly premium.
Q-How do I update my banking information for benefit premium deductions?
A-Please contact Pensions Services in Human Resources at Queen’s University for instructions on updating your banking information for benefit premium deductions.
Q- May I have my monthly benefit premiums deducted directly from my pension payment?
A-The Pension payment is paid by the pension plan trustee not Queen’s University, therefore the University is unable to deduct your benefit premiums from your pension payment.
Do you need assistance?
Pension Services and Retiree Benefits help, including with estate planning and management, is available for Queen's retirees. For information or assistance, call Pension Services at 613-533-2070 or email hrpension@queensu.ca