Note: All pensioners received this information in a package mailed to their home address.
WISE Trust will be transitioning to a new pension payment service provider to better serve our members in the long term.
Effective October 1, 2023, CIBC Mellon will process our pensioners’ monthly pension payments from the WSIB Employees’ Pension Plan (your “WISE Trust pension”). There is no action required by WISE Trust pensioners and gross monthly pension payments will not be affected by this change.
Moving forward, questions regarding the CIBC Mellon pay statements or T4A tax slips can be directed to CIBC Mellon at 1-800-565-0479. All other inquiries about your WISE Trust Pension should continue to be directed to our WISE Trust Pension Contact Centre at 1-855-242-1526.
See below for more information on who to contact and when and Frequently Asked Questions (FAQs) regarding this change.
More Information on Pension Payments
Pension Payments: Beginning October 1, 2023, CIBC Mellon will process WISE Trust monthly pension payments. Prior to this date, pension payments were processed by ADP. All of your pension payment information including direct deposit banking and your personal address of residence information will be automatically transferred from ADP to CIBC Mellon. CIBC Mellon adheres to federal privacy legislation (PIPEDA) requirements in the handling and care of your personal information.
Pension payments are made on the first day of each month. However, if your banking institution does not process payments on weekends or statutory holidays, your monthly pension payment will be deposited on the first business day of each month. Contact your banking institution to confirm timing of direct deposits on non-business days.
Pay Statement: You will receive a CIBC Mellon pay statement delivered by mail for your October 1st pension payment. After this initial pay statement, pay statements will be sent to you only when there is a change to your net payment amount, banking information or address of residence. For future reference, you should keep your October 1, 2023 pay statement on hand.
Who to contact for questions about your WISE Trust pension
Most inquiries can continue to be directed to the WISE Trust Pension Contact Centre.
CIBC Mellon will be available to WISE Trust Members to answer specific questions related to your pay statements, tax slips and/or income tax withholding.
The chart below provides a breakdown of who to contact and when:
WISE Trust Pension Contact Centre
Phone
Call toll free: 1-855-242-1526
Outside of North America: 678-932-4144
Monday to Friday, 8:30 a.m. to 4:30 p.m. EST
Mail
130 King Street West
Suite 1500, P.O. Box 424
Toronto, ON M5X 1E3
Online
Access My Pension Resource through the www.wisetrust.ca homepage
For reasons, not limited to:
- Make changes to your personal information, including your mailing and residential addresses
- Direct deposit banking changes
- Pensioner power of attorney and death notifications
- General pension questions and more
CIBC Mellon
Phone
Call toll free: 1-800-565-0479
International: 1-519-873-2218
Monday to Friday, 8:30 a.m. to 6:00 p.m
Only for questions regarding:
-
- Pay statements
- Income tax withholding and personal exemptions
- T4A tax slips
Important: When contacting CIBC Mellon, you will need to identify yourself by providing your reference number shown on your pay statement. This security measure helps safeguard your privacy and confidentiality.
FAQs
The new CIBC Mellon system processes tax withholding/deductions using the most up-to-date federal and provincial personal tax exemptions that are based on the tax regulations for your address of residence. This may have resulted in a change in your net pay.
Moving forward, tax updates are based on federal or provincial budget requirements and changes may occur twice per year in February and August. If there is a change to your taxation, a CIBC Mellon pay statement will be mailed to you at that time.
You will receive a pay statement from CIBC Mellon delivered by mail for your October 1, 2023, payment. After this initial pay statement, you will receive a monthly pay statement only if there is a change to your net payment, banking information or address.
Contact CIBC Mellon at 1-800-565-0479
Pension payments are made on the first of the month. However, if your banking institution does not process payments on weekends or statutory holidays, you will receive your monthly pension payment on the first business day of each month. Contact your banking institution to confirm timing of direct deposits on non-business days.
CIBC Mellon mails cheques at least four business days prior to the payment date.
Contact the WISE Trust Pension Contact Centre at 1-855-242-1526
Update your direct deposit bank account information online on My Pension Resource or call the WISE Trust Pension Contact Centre at 1-855-242-1526. Do not close your old bank account until you receive your pension payment in your new bank account.
Notify us as soon as possible if you are moving or have moved. Call the WISE Trust Pension Contact Centre at 1-855-242-1526 or update your personal information online on My Pension Resource.
Complete the appropriate tax form(s) and send it to the WISE Trust Pension Contact Centre at:
130 King Street West
Suite 1500, P.O. Box 424
Toronto, ON M5X 1E3
RESIDENT OF CANADA: complete a TD1 form for federal tax and the appropriate provincial/territorial form. TD1 forms are available at: canada.ca
QUEBEC RESIDENT: Residents of Quebec also need to complete a TP1017 or TP1015, as applicable: www.revenuquebec.ca
These forms are also available from your local tax office.
Going forward, CIBC Mellon will issue tax slips. However, in February 2024, you will receive two separate T4A tax slips for the 2023 tax year – one for the pension payments issued by ADP (for the period January to September 2023) and another for the payments issued by CIBC Mellon (for the period October to December 2023).
If you currently have an ADP Workforce Now account, you will continue to have access to your previous ADP account for three years to access ADP pay statements issued prior to October 2023 and T4A tax slips for the previous three years (2022, 2021, 2020).
A self-service website is under development and will be made available to WISE Trust pensioners as soon as it is up and running.
Contact CIBC Mellon at 1-800-565-0479.