What Will Be In Your Package from MC

by **Teentitan** Wed 24 Apr 2013, 13:03

When your cheque is ready this is what you can expect in your package...

The member will receive:

The cheque;

Invoice/Receipt from Mc;

A complete calculation sheet prepared by Manulife demonstrating their calculation of the benefit including interest; tax gross up of 3.37%, overpayment/debt recovery credits, tax holdback %, legal fees, applicable tax on legal fees. I cannot provide this spreadsheet to you in advance.

Mc Memo re: appeal process for calculation or ltd status (24 months versus permanent) taxes generally. Other info on our administration (finding members etc).

The QRLSP will be prepared and issued direct to the members by Manulife in February 2014 along with other reporting (t4a, t4 etc). The QRLSP is filed with 2014 tax filings and CRA calculates the tax implications most beneficial to the member, either spreading over a number of years or all in 2014.

COURIER INFO:

I have just been reminded by my assistant that we looked at the option of having id and signature on delivery and that it is simply not doable in the circumstances as it would delay delivery by months given what it would take to set up such a system.

Instead, once an address is confirmed, any member of the household can sign for the package, however, that signature is tracked and a scanned copy of the signature who signed for it is tracked by the courier. As a result, if there's a problem, whoever signed and received the package can be tracked down at a later date.

The checks are also endorsed in such a way that only the member can cash the check. The check cannot be endorsed to a third-party payee. So the member will have to attend their own financial institution, or if they go to another institution produce identification.

Trust this clarifies how the packages will be delivered in the safeguards we put in place to ensure the checks are cashed by the member only. No system is perfect but the safeguards we have put in place are in line with industry standards.

Thank you to Peter for providing this information to us.