Update: CEIRP Investment Management Fees are Dropping, Again!

We’re pleased to announce that the Investment Management Fees (IMFs) deducted from the plan have been reduced by 0.01% to 0.479% (which includes 0.039% for fund operational expenses and taxes). This means more of your money stays invested and working for you.

To review the list of investment options and Investment Management Fees and operating expenses under your plan, go to My Canada Life at Work at mycanadalifeatwork.com under Info Center > for Savings > Fund reviews and fees.

Questions? Call Canada Life at 1-833-531-6418 from 8am to 8pm ET.

Fund Manager	Fund Name	Old IMF	New IMF	% Change
PSG	Cadence Target-Date funds	0.45%	0.44%	0.01%
PSG	Portfolio Target-Risk funds	0.45%	0.44%	0.01%
Mackenzie	SRI Balanced	0.45%	0.44%	0.01%

The benefit of paying lower fees

As the CEIRP plan grows, the Retirement Committee reviews our group retirement and savings plan. The purpose is to ensure that we have access to quality investment options to help us achieve our personal retirement savings objectives. As a result of this review, the Committee has secured lower investment management fees (IMFs) for our plan provided by Canada Life.

Paying lower fees means that more of your money is invested in the plan, and that helps you to achieve your retirement savings goals.

About IMFs 

IMFs are fees paid to investment managers for their professional services, including the daily management of each fund offered through our group plan. Fees also include services related to customer service, website access, statements and call centre support. IMFs are based on the asset value of each fund and are unique to your group plan. The IMFs don’t include applicable taxes (GST/HST) and fund operating expenses (FOEs)¹, which are also charged.

How to find more information about IMFs associated with our plan

Go to mycanadalifeatwork.com to sign in to your account
In the menu on the left, select “Info Centre”
Next, select “Fund review and fees”
Next, select your RRSP account and select continue
The next screen will list all the different funds available in the RRSP plan – select your corresponding fund. For example, Cadence 2030 (PSG) will be the target date fund that matches your expected year of retirement. If you need help with your savings, call the dedicated Canada Life line at 1-833-531-6418 Monday to Friday, 8 a.m. to 8 p.m. ET.

While you’re signed in to My Canada Life at Work^TM, you can also make changes to your portfolio by selecting:

Fund-to-fund transfers to change your current investments to your newly selected investment option(s)
Investment instructions to change your future contributions, such as payroll or automatic contributions, to your newly selected investment option(s)
Maturing investments to change from a guaranteed investment account to your newly selected investment option(s)

Get started

Questions?
We’re here to help!
For help with your savings, call: 1-833-531-6418.
For technical support with My Canada Life at Work, call:
1-888-222-0775, Monday to Friday, 8 a.m. to 8 p.m. ET.

¹ FOEs are fees charged directly to the fund to cover costs including audit and custodial fees, fund transaction costs, taxes paid by the fund, bank fees, fund valuation and reporting. The total amount of FOE is calculated at the end of each year. The amount reported to you will usually be the previous year end charges calculated as a percentage of the fund.

Canada Life and design and My Canada Life at Work are trademarks of The Canada Life Assurance Company.