Overview

Updating your group plan design is a flexible way to manage your company's benefits. However, if your current plan includes a Deferred Profit Sharing Plan (DPSP) you can't change the design yourself because these plans require formal amendments with the Canada Revenue Agency (CRA).

Eligibility

• Standard plans: You can update most group plans at any time.
• DPSP restrictions: If you offer a DPSP, you must contact your dedicated Client Success Manager for assistance.

How to change your plan design

To update your existing plan design, you must create a new plan, then assign all eligible employees to the new plan.

Create a new plan for specific employees

If you need a different plan design for only a subset of your employees, you should create a separate plan rather than changing your existing one. Once the new plan is created, you can assign the relevant employees to it.

Frequently asked questions