CLHIA – G19 Information for Advisors
The Canadian Life and Health Association (CLHIA) published a new guideline, G19, in December 2017. G19 sets out the framework for disclosing to the sponsors of group retirement and group benefits plans, how much they pay to the intermediaries involved in the sale or renewal of the plan. The CLHIA has been holding information sessions in various locations across Canada for advisors to learn more. IFB has been critical of the lack of involvement of advisors in the development and implementation of G19. New developments have been announced this week.
The CLHIA announced February 5th that the July 1, 2018 reporting date for new sales, has been delayed until January 1, 2019. Disclosure for renewing programs will be implemented January 1, 2020. In addition, it has now made materials available on its website where advisors can read G19, the accompanying explanatory documents and comment on them until March 2, 2018. As well, there’s a link for interested advisors to volunteer for the advisory group that will have input on how G19 rolls out.
Have your say!
- Attend a CLHIA information session (2 new sessions have been added for Toronto on February 26th). Space is still available for Calgary, Winnipeg, and Halifax.
- Register for the webinar on February 22, 2018.
- Comment on the Explanatory Notes directly to the CLHIA
- Send your comments to IFB. We will prepare a response to the CLHIA by March 2. Email us at: email@example.com
Advisors – Find G19 information here
FOR CONSULTATION: Explanatory notes to Guideline G19, Compensation Disclosure in Group Benefits and Group Retirement Services
Press release issued February 5, 2018: CLHIA DELAYS IMPLEMENTATION OF NEW COMPENSATION DISCLOSURE GUIDELINE BY SIX MONTHS
Advisor Protest – New disclosure rules from CLHIA draw complaints