Clarica has introduced a suite of technology enhancements to its service capabilities for Pension and Group Savings plan sponsors and their employees. A key new feature is the introduction of an online enrolment process.

Kevin Strain, vice president, Pension and Group Savings, said Clarica is the first Canadian insurance company to offer paperless enrolment forms for plan members. A key challenge in this process was working with regulators to develop a process that eliminates the need for a signed document, he noted. Upon enrolling, a member receives a confidential ID and password through the mail, at which time the entire process becomes electronic.

Other service enhancements include secure two-way e-mail ensuring confidential electronic communication over the web; transaction history, member statements, plan member withdrawals all available online and the capability to automatically rebalance a member’s account that goes offside of the 30% foreign content limit in Registered Retirement Savings Plans.

Strain said, “Clarica is committed to being a leader in the Canadian Pension and Group Savings plan business. We believe these latest technological service enhancements and the value-added services they deliver will maintain that momentum going forward.”