CAF Community Savings Plans

Frequently Asked Questions

• What is this savings plan?
  This Canada Life savings option is designed to contribute to your financial health. It offers a simple savings and investment solution that can be utilized for short and long term financial goals. It’s a great opportunity to “Pay yourself first” and save for your short and long term financial goals.
• Is there a minimum to invest in the plan?
  For as little as $25 per month (less than a cup of coffee a day), you can start investing.
• What is the fee for withdrawals?
  Please review the fee schedules and the addendum above for more information.
• Why should I invest in this savings plan instead of with my bank?
  • We have access to some of the best money management experts in the industry.
  • The Investment fund management fees are lower than the industry standard.
• How to change my address?
  Log in https://my.canadalife.com and then click on your initials at the top right of the screen and then click on ‘Profile’. Select the ‘Mailing Address’ icon to update.
   
• How to change my beneficiary?
  Log in https://my.canadalife.com and then click on your initials at the top right of the screen and then click on ‘Profile’. Select the ‘Beneficiaries’ icon and update your primary and contingent beneficiaries as needed.
   
• How can I make contributions?
  You can set up a PAC (pre-authorized chequing) at https://my.canadalife.com or do an online bill payment. For online bill payments, your account number is 62498 followed by your ‘Certificate, also referred to your account number, which is on your statement.
   
• How to start and stop my PAC (pre-authorized chequing) contributions?
  Log in https://my.canadalife.com  and click on the ‘Contribution’ tab in the left navigation and then click on ‘View’ and then you start or cancel your PAC.
   
• How to go paperless and receive an e-statement?
  Log in https://my.canadalife.com and click on your initials at the top right of the screen and then click on ‘Your Profile’ and then on ‘Communication preferences’.  Select ‘Go paperless’ and click on ‘Save’.
   
• How do I request a duplicate tax receipt?
  Log in https://my.canadalife.com and click on ‘Tools and resources’ on the left navigation and then click on ‘Tax receipts’ under ‘View my portfolio’.
   
• How to terminate my plan?
  If you wish to terminate your plan, please ensure that all re-occurring contributions are stopped and your account balance must be at $0. Then, please call Canada Life at 1 800 724-3402 between 8am and 8pm EST Monday to Friday to ask them to terminate your plan.
   
• New user – How can I enroll online to access my plan?
  1. Enroll in the plan at www.grsaccess.com and complete the application
  2. Once the application has been approved, you will receive an email approx. 24 hours after with a link to register for online access (view their plans) at https://my.canadalife.com/register  or https://mycanadalifeatwork.com
     • If you are having difficulty registering, you can call Canada Life tech support at 1-888-222-0775 weekdays between 8am and 8pm EST
  3. To login thereafter, please visit https://my.canadalife.com with your own Access ID and password
• Existing User – How to reset my online access?
  Visit https://my.canadalife.com and click on ‘ Forgot Password or Access ID/email address’ and follow the prompts
• Where can I find the investment options?
  Click on the Unlock offer; follow the steps to log in to the guest site; click on "Investments", then click on "Fund Reports"
• Where can I find the rate of return on the investment options?
  Click on "Unlock the offer"; follow the steps to log in to the guest site; click on "Investments; click on "Fund Review"
• What happens to my plan when I retire, release or change employment?
  You can keep your Canada Life plan for as long as you want. You do not need to transfer or close your plan if you retire, release or change your employment.