Financial Health
Planning for the future takes focus and planning. Whatever your retirement goals may be—whether it’s exploring the world, starting a new business, or simply enjoying quality time with your loved ones—take advantage of your Cision benefits to pave the way toward achieving those goals.
Retirement Savings Program
We are pleased to provide eligible employees with a retirement savings program in partnership with Desjardins Financial Security Life Assurance Company (Desjardins Insurance). It features a defined contribution registered pension plan (DCPP) and a registered retirement savings plan (RRSP) for both your contributions and the contributions made by Cision on your behalf. The program also features a tax-free savings account (TFSA). Refer to the booklet [PDF] for details.
Contributions: Yours and Cision’s
Your Defined Contribution Pension Plan (DCPP)
Your Contributions
- You can make optionable variable contributions (matched) up to 5% of your earning to a DCPP account in your name through payroll deductions
- You may also make additional voluntary contributions (unmatched)
- When you begin receiving the account balance as income, you pay tax on it
Company Contributions
- For members that have completed 2 years of service, the Company will make base contributions of 1% of your earnings to your DCPP account
- The Company also matches your optional variable contributions to your DCPP according to the table below:
| Member's Completed Years of Service* | Percentage of Company Matching |
|---|---|
| 0-1 years | 40% |
| 2-4 years | 50% |
| 5-9 years | 70% |
| 10-14 years | 90% |
| 15+ years | 100% |
* Based on employee’s whole years of service as of Plan implementation date of July 1, 2004 and on every January 1 thereafter.
Note: The aggregate of your contributions and the Company’s contributions are subject to an annual cap established by the Income Tax Act (Canada). All contributions to the DCPP will cease once the annual cap is reached and recommence in the following year.
Your Registered Retirement Savings Plan (RRSP)
Your Contributions
- You can make regular voluntary contributions to an RRSP account in your name through payroll deduction, or lump-sum contributions, up to your maximum annual RRSP deduction limit as determined under the Income Tax Act (Canada)2. When you take money out of your RRSP, you pay tax on that amount.
Company Contributions
- You can make regular voluntary contributions to an RRSP account in your name through payroll deduction, or lump-sum contributions, up to your maximum annual RRSP deduction limit as determined under the Income Tax Act (Canada)2. When you take money out of your RRSP, you pay tax on that amount. <– Is this bullet supposed to be the same as Your Contributions above?
Your Tax Free Savings Account (TFSA)
Your Contributions
- You can make contributions to a TFSA in your name through lump-sum contributions up to $6,000 per calendar year.3 All member contributions are facilitated through Desjardins. Please contact Desjardins to enquire about making a lump sum contribution to the TFSA. Because contributions are made from after tax dollars, you will not receive a tax deduction; however, any investment income you earn in the TFSA is tax-free.
Company Contributions
- None – only you can contribute to the TFSA.
Contact
When you register, you will be able to create an Access ID and password of your choice, which you can use to access information online.
Information and online services are available at: dfs.ca/GroupPlanMember
To contact a customer service representative for assistance with your retirement plans, call: 1-800-968-3587
Questions?
Health Care Spending Account
Annual Allotment: Cision will deposit the credits in your HCSA, which will be equal $250 (per insured employee)
Eligible Expenses: Health and Dental expenses which qualify as a medical expense tax credit within the Income Tax Act
Carryover Type: Any expenses that are not reimbursed in full during the year in which they are incurred can be carried forward and paid with the credits available the following year
Termination: The date of retirement
Life Insurance
Basic Life and AD&D Insurance
Life and accidental death and dismemberment (AD&D) insurance provide financial protection for you and your family. You are eligible to participate if you are a regular employee scheduled to work at least 20 hours per week. These benefits are administered by Desjardins.
Accidental Death and Dismemberment (AD&D) insurance provides specified benefits to you in the event of a covered accidental bodily injury that directly causes dismemberment (i.e., the loss of a hand, foot or eye). If your death occurs due to a covered accident, both the life and the AD&D benefit would be payable.
Benefit Amount (same for Life and AD&D): 2 times annual earnings for up to $500,000. It reduces by 50% at age 65 and terminates at age 70 or retirement, whichever is earlier.
Optional Life Insurance
You can purchase optional life insurance for yourself, your spouse or domestic partner and your children. The rates vary depending on your age, gender and smoker/non-smoker status and are medically underwritten.
| Basic Life Benefit | Optional Life Benefit (employee and spouse) | |
|---|---|---|
| Amount of insurance | 2 times annual earnings | Units of $10,000 (minimum $10,000) |
| Maximum | $500,000 | $250,000 (evidence of insurability is required for any amount) |
| Reduction | 50% at age 65 | N/A |
| Termination | Age 70 or retirement, whichever comes first | Age 65 or retirement, whichever comes first |
| Dependent Optional Life Benefit (each child) | ||
| Amount of insurance | - | Fixed $5,000 |
| Maximum | - | $5,000 |
| Termination | - | Age 65 or retirement, whichever comes first |
| Basic Accidental Death & Dismemberment | Optional Accidental Death & Dismemberment | |
| Amount of insurance | Equal to the basic life benefit amount | Units of $10,000 (minimum $20,000) |
| Maximum | $500,000 | $250,000 |
| Reduction | 50% at age 70 | N/A |
| Termination | Age 70 or retirement, whichever comes first | Age 65 or retirement, whichever comes first |
Disability Insurance
If you are ill or injured and unable to work, Cision has benefits to protect you and minimize your financial worries. Refer to the Short-Term Disability and Long-Term Disability Policy [PDF].
| Salary Continuance Program (Short Term Disability) | |
|---|---|
| Coverage Amounts | This program enables employees who are absent from work due to illness or injury (for more than 6 days) to continue receiving their usual earnings. |
| Maximum Benefit Period | 17 weeks |
| Termination | At age 65 or retirement, whichever is earlier |
| Long Term Disability | |
| Benefit amount | 67% of the first $2,250 of monthly base earnings, 50% of the next $3,500 and 44% of the remaining monthly base earnings |
| Maximum benefit | $12,000 per month (medical evidence of insurability is required for amounts over $9,100) |
| Elimination period | 119 calendar days |
| Termination | On your 65th birthday or at retirement if earlier |
Critical Illness
Supplement your medical and disability coverage with a lump-sum payment if you experience a condition such as cancer, a heart attack, stroke, kidney failure and more. You can purchase coverage for you or your spouse. Find more information here [PDF].
| Optional Critical Illness | |
|---|---|
| Coverage Amounts | Employee - units of $10,000; maximums - $30,000 (no evidence) and $150,000 (with evidence) |
| Spouse - units of $10,000; maximums - $30,000 (no evidence) and $150,000 (with evidence) | |
| Child - units of $5,000; minimum - $10,000; maximum - $25,000 | |
| Illnesses Covered | 31 covered conditions (refer to your booklet for a full list of covered illnesses) |
| Termination | At age 65 or retirement, whichever is earlier |
Corporate Discounts
Welcome to your Discount Marketplace! Enjoy discounts, rewards and perks on thousands of the brands you love in a variety of categories:
- Travel
- Auto
- Electronics
- Apparel
- Local Deals
- Education
- Entertainment
- Restaurants
- Health and Wellness
- Beauty and Spa
- Tickets
- Sports & Outdoors
To get started:
- Go to cisionca.benefithub.com
- Click on the “Don’t have account, sign up” link
- Enter your Name and Email Address and use referral code – GDKZIF