Name Changes are Coming to our Pension Fund Administrator.
If you’ve invested your savings with us as part of your Group RRSP / TFSA / RRIF, you probably know that our Pension Fund Administrator is Great-West Life. They have name changes coming next year, and word is starting to trickle out about the change.
When you’ve been in the business for 35 years or so, you usually get to experience some change over the years. When we started the Group RRSP, London Life was our Pension Fund Administrator. The Pension Fund Administrator is the company that tracks your investments, processes payments from your payroll department, and issues your statements, among other functions. That’s why sometimes you’ll still make out cheques to London Life.
In 1997, London Life became part of Great-West Life – so that’s the company you’ll usually see on your statements. But starting in 2020, that will change too. Great-West Life will be re-branding all of their operations to the new Canada Life.
How does this affect you? For now, it probably doesn’t. Everything else except the brand will stay the same. We just wanted to give you a heads up in case you suddenly started to see Canada Life information in your email inbox or your statements.
More questions about this change? Contact us and we'll be happy to help you!