We often hear from members about the timing of standard account transactions. We have collected the most common questions and answers for your convenience:
Q: RRSP contribution receipts not matching details on paystubs and online banking contributions had not yet been processed into their plan.
A: There are two key factors that affect the timing: payroll processing and payroll remittance to the local/guild. For example, when a contribution comes off a member’s pay in September, it may not be remitted until October. In some cases, remittances are processed manually and then sent to Canada Life, so additional time is necessary.
Q: How long does it usually take for an online contribution from my bank account to appear in my CEIRP RRSP or TFSA?
A: It should appear within a couple of business days.
Q: How long does it take to process a withdrawal request?
A: Canada Life’s standard turnaround time is five business days. However, due to high volumes, they may be processing requests outside of service standards.
Q: How can I see recent activity in my account?
A: You can create an activity report from the last 12 months by signing on to mycanadalifeatwork.com. From the menu on the left, click on Tools & Resources. When the screen refreshes, you’ll see View Your Portfolio. Simply click on Activity Reports and fill out the short form to generate the report.