Managing Employee Terminations in the Employer Dashboard

When an employee leaves your organization, the Employer Dashboard allows you to efficiently manage their termination. This article provides step-by-step instructions to guide you through the termination process, helping you stay on top of your group retirement savings plan by keeping it accurate and up to date. 

Step 1: Access the Employee List

• Navigate to the Employees section of the Employer Dashboard
• Click on the name of the employee you wish to terminate. This will open the Employee Details page.

Step 2: Review Employee Details

The Employee Details Page provides key information to assist in the termination process, including: 

• Group Name and Email Address: This information helps confirm the employee’s identity.
• Contribution Overview: A breakdown of contributions made by both the employee and employer, along with an account split table for various plans (e.g., DPSP, RRSP, TFSA).

Step 3: Initiate Employee Termination

• Click on "Start Employee Termination": This button is available at the top-right of the employee’s profile page. This will open the Employee Termination page. 

Step 4: Complete Termination Details

• Set the Termination Date:
  • Use the date picker to select the employee’s last working day. You can choose a past or future date. This field is mandatory. 
    Contributions can still be uploaded for terminated employees after their status has changed, except for DPSP contributions when the employee's funds are unvested, as this will initiate a forfeiture upon upload. 
• Enter personal email address
  • Add the employee’s personal email address so a member of our team can provide support.
• Confirm Asset Vesting (For plans with DPSP)
  • If your employee is enrolled in a DPSP, the Employee Termination page will display whether their DPSP assets are vested. If the assets are not vested, you have the option to override and vest them. Please note that once this override is applied, it is irreversible.
  • Employers might choose to override the vesting to recognize employee contributions in special circumstances, such as rewarding tenure or contributions that have benefitted the organization. However, we recommend carefully considering this action, as it cannot be undone.
  • A warning message will appear if you decide to modify the vesting date.
• Please wait 5-7 business days to terminate an employee if a DPSP contribution has been recently made. 

Step 5: Submit the Termination 

• Review the details and click Submit. 
• Once submitted:
  • The employee’s status will be updated to Terminated, and they will be removed from the Employee List.
  • You will be redirected to the Employee List with a success message confirming the termination.
• A member of the Common Wealth team will reach out to terminated employees to discuss their options and provide guidance on managing their plan.