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This is to advise you that the
Pension Services Directorate of the Compensation Sector has developed an
electronic process to track election payments. |
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The electronic process compares the actual
election payments received to the required payment schedule established
when the election was approved and finalized (Elective Service Notice, PWGSC-TPSGC
2097 [ PDF
516k
]). Discrepancies identified by this process will be investigated
by the Superannuation Directorate. |
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Some of the discrepancies are a result of incorrect
source data. The source data will be corrected by the Superannuation Directorate
without any impact on the compensation advisors or the regional pay offices.
In some other cases, discrepancies have already been identified by the
compensation community and the correction process is under way. |
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The main purpose of the electronic tracking
process is to identify discrepancies that go undetected by the compensation
advisor and the regional pay office manual controls. The Superannuation
Directorate will investigate these discrepancies and pursue corrective
action. During the investigation, the Superannuation Directorate may contact
compensation advisors or regional pay offices for information. The normal
processes will be followed to recover any default payments and/or to refund
any overdeducted amounts. |
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It is expected that up to 3,000 "undetected" discrepancies
will be discovered using this new electronic election payment tracking
tool. After the initial cleanup exercise, the electronic tool will be used
to detect discrepancies on an ongoing basis. |
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Any inquiries on the information contained
in this document should be addressed to Pierre Laviolette, Manager, Improved
Pension Administrative Processes Project at (613) 957-8127. |
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