Enseco’s New Employee Savings Plan

Over the summer months Enseco explored a redesign to the Employee Share Ownership Program.  The previous program was administered by Olympia Trust and it gave the employees the opportunity to purchase Enseco Shares with a corresponding company match.

Well with the help of our benefit contractor – Gallagher Benefits and Enseco’s partnership with Sun Life Financial we have been able to provide a new program in response to the needs and requests of our employees.

Effective October 2012 Sun Life Financial is the new administrator of our Employee Savings Plan.  This new partnership allows employees to capitalize on the already existing relationship that we have through the extended health and dental benefits program.

Some of the highlights include;

  • A new portfolio of investment funds designed to encompass various investment choices along with Enseco shares as one of the options
  • Investment dollars can be allocated across various funds
  • Employees can open a Registered on Non Registered account, still keeping the option to open a Spousal RRSP as well
  • Sun Life Financial provides investment advice free of charge to employees- contact them at 1-866-896-6984.
  • Employees are able to access their investment account online, the same way they access their health account with Sun Life
  • Employees are able to make one time contributions to an existing account by contacting Sun Life Financial
  • Company match is the same; dollar for dollar match up to 3% of your base pay
  • Employees can merge all of their invests ( any private or previous company sponsored accounts) into one account with Sun Life for easy record keeping
  • The plan is open to all Enseco employees who have been with the company 6 months or longer.

Throughout October Enseco and its partners were able to make field visits to all of our Canadian sites and meet with available employees to discuss the new plan.  For those who were not able to attend these presentations all field offices have now been provided with  enrollment kits detailing the plan with answers to questions as well.

If employees are interested in learning more contact the HR/Payroll Department at 403-806-1052.

John Gallichan – HR/Payroll Manager

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