Memo: CUPE 2950 Disability Benefit Plan – Premium Rate Decrease, effective Dec. 1, 2014 (Nov. 20, 2014)

Memorandum
Date: Nov. 20, 2014
From: UBC Human Resources and CUPE 2950
To: CUPE 2950 employees who are enrolled in the Disability Benefit Plan (DBP)
Subject: CUPE 2950 Disability Benefit Plan – Premium Rate Decrease, effective Dec. 1, 2014


The UBC Disability Benefit Plan (DBP) is a mandatory, employee-paid plan that provides a monthly income after a four-month waiting period for those who meet the definition of total disability under the plan. This plan is administered by Sun Life, with oversight from your union (CUPE 2950) and UBC. Premiums for this plan are deducted from each of your pay cheques.

Each year the premium rate for the DBP is established with the insurance company, Sun Life. The premium rate is influenced by a number of factors, with the most important one being claims experience – the number of claims and the expected cost of those claims into the future.

Effective December 1, 2014, and for the 2015 calendar year, your DBP premium rate will be reduced to 1.542% of earnings (it is currently 2.30%).

A CUPE 2950 DBP Governance Committee will continue to regularly review the disability plan to ensure that it meets the needs of members and remains financially competitive.

Additional Information and Questions

For more information about the CUPE 2950 DBP, please visit the following web page: www.hr.ubc.ca/benefits/irp-dbp/cupe-2950/.

If you have any questions, please contact Stephanie Mah at 604-822-6823 or stephanie.mah@ubc.ca.

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