Products & Services
Employee / Employer Benefits
Employee / Employer Benefits may include the following:
- Pension Plans
- Group Life and Health Insurance
- Chief and Council Coverage
- Coverage for Casual Employees
- Individual Life Insurance
- Financial Planning
- Individual Disability Insurance
- Critical Illness
Many Nations offers a choice. You can choose to become a member in The Retirement Plan for the Employees of the Participating Employers of the Many Nations Pension Plan (also known as The Many Nations Multi-Employer Pension Plan) with over 160 First Nations organizations, coast to coast, large and small, with combined assets of more than $80 million. This pension plan is the largest First Nations Multi Employer Pension Plan in Canada. The growing value of the plan translates into economic power, which we use to influence the pricing and investment decisions of our major financial business partners. Due to the size of the Pension Plan, we pay a lower management fee and we pass the savings along to you, our members.
Many Nations Multi-Employer Pension Plan is a "defined contribution" plan offering employees a wide variety of "no load" investment options. The Many Nations Pension Committee bears the fiduciary responsibility for overseeing and administering the plan in accordance with legislation set out by Canada Customs and Revenue Agency (CCRA) and by the Office of the Superintendent of Financial Institutions (OSFI).
As an alternative and in special cases, a stand-alone pension plan may be preferred. We partner with the pension providers to provide this alternative. We currently service approximately $100 million of assets in our clients' stand-alone pension plans.
As a First Nations' organization, you may be eligible for Band Employee Benefit (BEB) Funding from Indian Affairs. Included as an additional service to our clients, we are pleased to assist you in preparing your application for submission to your Funding Services Officer (FSO).
Group Life & Health Insurance
As a specialist in the First Nations market, we provide the coverage requirements that are specific to the needs of our clients. In the Group Life and Health market, it is important that our First Nations clients are provided with the correct amount of coverage to coordinate their benefits with Indian & Northern Affairs Canada (INAC) and Non-Insured Health Benefits (NIHB). As a non-taxable employee, we ensure that the employee's disability income in the event that they become disabled is paid at a higher level to reduce the amount of the decrease from their pre-disability earnings.
Group Life & Health Insurance Components
- Life Insurance
- Accidental Death and Dismemberment Insurance
- Dependent Life Coverage
- Short and Long Term Disability Insurance
- Health and Medical Insurance
- Dental Insurance
- Vision Care
- Employee and Family Assistance Programs
- Critical Illness
As a full service brokerage, Many Nations is also pleased to offer our clients a wide variety of individual insurance and investment products. Our goal is to assist you and your family in assessing your insurance needs and planning for your financial future.
It is important that we are knowledgeable in the non-taxation of our client's pensionable earnings before and after retirement. Many Nations ensures that our clients receive the proper advice during their years in the pension plan and after they leave the plan or at retirement. We are pleased to assist our clients in the transfer of their pension money into the correct individual financial products to insure the taxation issues are handled correctly.
Examples of Available Individual Products
| Insurance Products || Wealth Management Products |
|Life Insurance ||Financial Planning |
|Disability Insurance ||Segregated Funds |
|Critical Illness ||Registered Retirement Savings Plan |
|Long Term Care ||Annuities |
| ||Registered Education Savings Plans (RESP's) |
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