THE UBC FACULTY PENSION PLAN INTRODUCES SUN LIFE FINANCIAL

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1 THE UBC FACULTY PENSION PLAN INTRODUCES SUN LIFE FINANCIAL Life s brighter under the sun

2 The Board of Trustees of the University of British Columbia (UBC) Faculty Pension Plan (FPP) has recently selected Sun Life Financial to work with the UBC Pension Administration Office to administer the Plan. You may be familiar with Sun Life Financial, as they currently administer the Plan s Guaranteed Investment Certificates investment option and two of the Plan s retirement income options, RRIF-Type and LIF-Type Payments. They also deliver the group health and dental benefits for UBC faculty and staff. This brochure contains important information regarding the relationship with Sun Life Financial including key things to note, an overview of new features and services for members and steps of the transfer, as well as information on navigating mysunlife.ca/ubcfpp and Member Services. INSIDE THIS GUIDE SECTION 1: THE RELATIONSHIP WITH SUN LIFE FINANCIAL Key things to note New features and services for members Transfer of your account to Sun Life Financial Take action: Register on mysunlife.ca/ubcfpp PAGE 3 SECTION 2: NAVIGATING MYSUNLIFE.CA/UBCFPP PAGE 6 SECTION 3: MEMBER SERVICES PAGE 7 2 Sun Life Financial

3 SECTION 1: THE RELATIONSHIP WITH SUN LIFE FINANCIAL Sun Life Financial has been selected as the new recordkeeper for the FPP for its depth of knowledge, service excellence, tools and technology. At the end of June 2015, the FPP will move to a co-administration model administered by the UBC Pension Administration Office and Sun Life Financial. The enhanced relationship will increase administrative efficiencies and brings innovative and established technology and expertise to the FPP. KEY THINGS TO NOTE HAVE MORE QUESTIONS? You can find answers to Frequently Asked Questions about the transition at mysunlife.ca/ubcfpp. There are two key things to note regarding the transfer of the Plan s recordkeeping system to Sun Life Financial. 1. The plan design is not changing. The FPP continues to be a Defined Contribution Pension Plan (DCPP) to which both you and UBC contribute. 2. The investment options are not changing. You will have access to the same six investment options. The Board of Trustees continues to select the fund managers and fund options. NEW FEATURES AND SERVICES FOR MEMBERS Members will have more options for managing their accounts, including: 1. Monthly to daily fund valuation. Your investments are moving from monthly fund valuation to daily fund valuation in June Sun Life Financial will be performing the valuation. With daily fund valuation, you will be able to view the current market value of your investments, as at the end of the previous business day, at any given time. You will be able to make updates to your plan account in a more timely manner, no longer having to wait until the next month to make changes. Transition brochure 3

4 Interfund transfers: short-term trading fee Please note that a 2% fee will be charged when you initiate an interfund transfer into a fund followed by an interfund transfer out of the same fund within 30 days. This is known as short-term trading. Other than the short-term trading fees, there are no fees for buying, selling or switching funds. Note: this fee does not apply to guaranteed funds or the UBC FPP Short Term Investment Fund. 2. Online investment allocations You can now make changes to your investments online through mysunlife.ca/ubcfpp or by phone through Sun Life Financial s Customer Care Centre at (1-844-UBC-3131), Option Easy access to your pension account Your pension information and group health and dental benefits are available to you on one convenient website at mysunlife.ca/ubcfpp, using a single access ID and password and a single phone number: (1-844-UBC-3131). 4. Enhanced tools and calculators (launching throughout 2015) A range of online financial and retirement planning tools are available to you at mysunlife.ca/ubcfpp; they can help you plan for your retirement more effectively. 5. Quarterly Statements of Account Your quarterly statements will be available online and you may now elect to opt out of paper statements through your online account. Starting with your June 30, 2015 statement from Sun Life Financial, paper statements will now be mailed to your home address. 6. Personal Rate of Return Effective July 1, 2015, you will be able to view your Personal Rate of Return at mysunlife.ca/ubcfpp. Sign in to mysunlife.ca/ubcfpp, then select my financial centre > Accounts > Personal Rates of Return. TRANSFER OF YOUR ACCOUNT TO SUN LIFE FINANCIAL Transfer from UBC s Pension Administration Office Update to daily valuation Confirmation statements Your existing plan account will transfer automatically to Sun Life Financial in late June 2015, according to the process shown below: Process begins in late June. The assets will be deposited to your new account with Sun Life Financial based on the value as at May 31, 2015*. The value of your account will be updated to reflect the change in investment value from May 31, 2015 to the date your account becomes daily valued in late June. The updated amount may be higher or lower than the value of your account as at May 31, 2015, due to market changes on the value of the investments held in the Plan. Confirmation statement provided by the UBC Pension Administration Office showing the amount transferred out (this is the value as at May 31, 2015). You will receive this statement by mail in early July Confirmation statement provided by Sun Life Financial showing the amount transferred in. You will also receive this by mail in early July The amounts on the statements will match, as the account transfer will be based on May 31, 2015 values. Your first quarterly statement from Sun Life Financial, as of June 30, 2015, will follow. * For members with guaranteed investments, the value transferred will include interest from May 31, 2015 until the transfer date. 4 Sun Life Financial

5 NOTE: Your account will be transferred to Sun Life Financial reflecting the same investments that you are holding on May 31, Due to rounding, there may be a slight difference in the number of units showing; however, it does not affect the dollar value of your account. You may continue to send investment allocation changes between May 26 and June 25, 2015 to the UBC Pension Administration Office. Sun Life Financial will process these requests by June 29, You will be able to access and make changes to your account on mysunlife.ca/ubcfpp by June 30, After the transfer, monthly contributions will typically be credited to your account within five business days after month end. TAKE ACTION: REGISTER ON mysunlife.ca/ubcfpp You may have already registered for access to mysunlife.ca through the UBC group health and dental benefits plan. The pension and benefits plans are now together in one location at Sun Life Financial, so if you have an access ID and password for the group health and dental benefits plan, you do not need to register again. You can use the same access ID and password to manage both the FPP and the group health and dental benefits plan. If you have not already registered on mysunlife.ca, use the account number contained in your welcome letter from Sun Life Financial to do so. You will receive this in the mail in June Click on Don t have an Access ID? Register now in the box at the right hand side of the screen. Click on Register-retirement plan (you will need your account number see the welcome letter you will receive in June 2015). Enter the required information and follow the prompts to complete your registration. Haven t been online lately? If you have registered but not visited mysunlife.ca recently (within the last 18 months), you will need to reset your password. You can do this by selecting the I forgot my password link at mysunlife.ca/ubcfpp, or by calling Sun Life Financial s Customer Care Centre at (1-844-UBC-3131). Transition brochure 5

6 SECTION 2: NAVIGATING MYSUNLIFE.CA/UBCFPP The following are some of the key things that you can do when you log in to your account at mysunlife.ca/ubcfpp: Learn more about your investments through Morningstar (available July 2015) Select my financial centre > Quick Links > Investment performance and select the personal rates of return link. You will see a section entitled My fund performance on the right hand side of the screen. Under this, select Morningstar. Change your investment selections Select Requests > Change investments and follow the prompts. Use the calculators Calculators for different scenarios are available at mysunlife.ca/ubcfpp. Sign in and select my financial centre > Resource centre > my money tools > Tools. Then select the specific calculator that you wish to use and follow the prompts. Access beneficiary forms Select my financial centre > Quick Links > Beneficiary info. Access your statements Select my financial centre > Quick Links > Statements. Access fee information Select my financial centre > Accounts > Account fees. 6 Sun Life Financial

7 SECTION 3: MEMBER SERVICES UBC PENSION ADMINISTRATION OFFICE The Member Services team at the UBC Pension Administration Office is available to assist you with any questions you may have regarding the Faculty Pension Plan and your retirement benefits and options. We offer various seminars including seminars for new members and for members approaching retirement. We would also be pleased to meet with you one-on-one. If you have any questions regarding the relationship with Sun Life Financial, please contact the Pension Administration Office by or phone. UBC PENSION ADMINISTRATION OFFICE: UBC FACULTY PENSION PLAN WEBSITE: pensions.ubc.ca/faculty You have 24/7 access to the FPP plan design features, investment information and more through pensions.ubc.ca/faculty SUN LIFE FINANCIAL Contact Sun Life Financial directly or go online to mysunlife.ca/ubcfpp for items such as: Assistance registering or navigating mysunlife.ca/ubcfpp, as well as password resets Account balances, Personal Rates of Return, and statements Investment changes Guaranteed Investment Certificate instructions Tax slips Forms Beneficiary changes Lump sum withdrawals Transfers-in from external registered plans Address changes (for deferred members only; active members continue to make address changes through the UBC Faculty/Staff Self-Service Centre at Sun Life Financial is available to help you with account balances and records management. Contact Sun Life Financial directly or go online to mysunlife.ca/ubcfpp for items listed on the left. The lines of communication are always open. You can choose the way you want to access information, make transactions and communicate with Sun Life Financial online or by telephone. SUN LIFE FINANCIAL CUSTOMER CARE CENTRE: (1-844-UBC-3131) Customer Care Centre Representatives are available any business day from 5 A.M. to 5 P.M. PT. You can also transfer to the UBC Pension Administration Office from Sun Life Financial by selecting Option 5. CUSTOM SIGN-IN TO FPP INFORMATION: mysunlife.ca/ubcfpp You have 24/7 access to the tools, services and information you need through mysunlife.ca/ubcfpp. Transition brochure 7

8 PRIVACY PRIVACY AND THE FPP Within the Sun Life Financial group of companies, protecting your privacy is a priority. Access to your personal information is restricted to those employees and representatives, including employees of UBC, who are responsible for the administration and servicing of your contract(s) with us, or any other person whom you authorize. You are entitled to review the information contained in our file and, if applicable, to have it corrected by sending a written request to us. DISCLAIMER This material is intended as a general guideline for information purposes, and is current as of the date indicated on the back cover. Market conditions and other factors change over time, and this will affect either positively or negatively one or more asset classes. All benefits will be paid in accordance with the provisions of the official Plan documents. The UBC Faculty Pension Plan Board of Trustees reserves the right to amend the Plan at any time. Group Retirement Services are provided by Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies. Sun Life Assurance Company of Canada, /15-kg-jc