Human Resources is pleased to announce that the University of Waterloo has implemented a new pension administration system, licensed by Morneau Shepell and called Ariel, effective November 1, 2016. This system was selected through a competitive bidding process and implemented with the approval and oversight of the Pension and Benefits Committee, and demonstrates the University’s long-term commitment to the ongoing management and administration of the pension plan.
Ariel provides HR’s Pension Services team with enhanced functionality to support more automated, accurate and efficient administration of the University’s defined benefit pension plan, and superior data integration with the University’s HR system. The previous pension system required several manual workarounds, checks, and balances by the Pension Services team to deliver accurate administration of the pension plan.
Starting today, plan members have access to an improved myPENSIONinfo portal with a more user-friendly interface, the ability to view beneficiary designation(s) and access annual pension statements, and use an enhanced tool to run estimated pension projections. Similar to the previous tool, you need to sign into the portal through the myPENSIONinfo link on the HR website with your WatIAM identification and password; this ensures your information is kept private and confidential and can only be viewed by you. Pensioners and former employees who left their pension in the UW plan also have access, and HR will provide information to these individuals in the new year.
The HR Pension Services team is offering Lunch & Learn sessions for employees to learn how to use the enhanced functionality in myPENSIONinfo. Please click here to view the registration dates and sign-up for a Lunch & Learn session.