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Published by Groupe Major, January 16, 2023
Updates to your staff’s salaries/income for 2023
Why do the updates?
Did you know that you need to update your staff salaries/income for 2023 with your insurer?
Yes, it is important to update your staff’s salary/income annually with your insurance carrier. Salary and income amounts can change at any time, and if your insurer is not aware of these changes, you may not be adequately covered.
These changes can have a significant impact on short and long term life and disability insurance benefits, as these are calculated based on the individual’s earnings.
It is therefore important that you update the salary/income information of all your employees as soon as possible so that your employees and their beneficiaries can receive the maximum benefits to which they are entitled in the event of disability or death.
Are you the person responsible for benefits administration?
Employee benefits are an important source of motivation for employees and a key means of recruiting and retaining talent.
Proper and accurate communication of salary changes is therefore an essential part of the benefits management process.
Employers can also benefit from this communication by maintaining their reputation for accountability and transparency.
Procedure to change the salaries/income of your employees
You can make changes to your team’s salary/income by accessing our online administrative platform, it’s really simple and super convenient.
We invite you to change this information as soon as possible.
Do you have any questions?
Your account manager will be available to answer any additional questions you may have and will support you through the process if you need it.
This text was written by the Major Group team, which specializes in group insurance.
Our team is made up of experts in the field, ready to assist you and answer all your questions about group insurance for your company.