Last November, the Canadian Union of Postal Workers (CUPW) went on strike against Canada Post, resulting in a disruption of postal services. As you may recall, the national strike was paused at the end of 2024 for an inquiry commission to take place. Now, as you may have heard, a labour disruption could happen again as early as May 22, 2025 (ref. Canada Post Notice – Negotiations updates). 

In preparation for a potential strike and to avoid payment delays to your clients, please review the important reminders below.

Key reminders

• Registration on the Client Portal and e-delivery 
  Encourage your clients who haven’t yet registered for the Client Portal to sign up and opt for e-delivery whenever possible, ensuring timely access to their quarterly statements. This is particularly important for the June 30 statement, which may be impacted by the strike. As a reminder, clients can update their document delivery preferences on the portal at any time.
  
  
• Alternative to cheques 
  With the potential strike and the industry’s gradual shift away from cheques, now is the perfect opportunity to highlight the benefits of electronic fund transfers (EFTs). By setting up EFTs for clients expecting cheques in the mail (e.g., for a RRIF/LIF payment, a client payment, or a redemption of distributions), they can enjoy:
        o    Faster processing and quicker payment 
        o    Reduced risk of error, eliminating misplaced cheques
        o    Reduced off-market exposure of funds 
        o    Enhanced protection of personal information
  
  Important: Please ensure valid banking information is on file before setting up an EFT.
  
  
• Cheque processing delays – Be aware that a strike could result in delays at fund companies.
  
  
• Transfers between fund companies – To mitigate delays, process fund company transfers as “in-cash transfers” when possible. See the procedure below for more information.
  
  
• Courier services will be reserved for exceptional circumstances only. Please anticipate delays due to increased demand during the potential strike.
  
  

  Client Digital Adoption  Also, to further encourage clients to transition away from paper and cheques, exciting initiatives are underway as part of our Digital Adoption Campaign. Stay tuned for more details in an upcoming issue of The 360 Newsletter.

   

  Additional information Alternative to Cheques – Marketing Document for Advisors Administrative Procedure #47 – Electronic Funds Transfer (Investia Nominee Accounts) Administrative Procedure #39 – In-Cash Transfers (“ICT”) Client Portal Starter’s Guide

  
  Should you require additional information, please contact our Client Service Department, by email at investia@investia.ca, or by phone at 1 888 684-5548.