Our Mission
"We are committed to enhancing the financial well-being of the Canadian Forces community through tailored and unbiased financial solutions; thereby contributing to operational readiness and effectiveness."
A holistic approach to optimal service delivery
An integral part of the Department of National Defence, through the Canadian Forces Personnel and Family Support Services, SISIP Financial Services (SISIP FS) has been the Canadian Forces (CF) delivery arm for term life and long term disability insurance and vocational rehabilitation. SISIP FS also provides other products and services such as financial planning, free financial counselling and access to loans and grants from the Canadian Forces Personnel Assistance Fund, among others.
As part of our holistic approach to financial health, these services work in concert, within a standardized process, to ensure optimal service delivery throughout our 18 offices across Canada. SISIP FS is constantly striving to enhance the quality of its offering, with practical financial solutions tailored to meet the very unique requirements and needs of the military lifestyle. Reviewing our progress and preparing for the challenges that lie ahead, are also part of this process; to that end we look back to…
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2010… A year in review
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Insurance
With licensed insurance professionals across Canada, SISIP FS offer term life and disability insurance options that are both competitively priced and adapted to the very specific needs of the CF members and their families.
Approximately 140,493 serving, former CF members and their spouses/partners were insured under our various term life insurance plans. Over $42.9M in life insurance benefits were paid to beneficiaries and the SISIP FS insurance coverage in force was $27.8B.
Close to 68,830 Regular Force and 30,000 Reserve Force members were insured under the Long Term Disability (LTD) policies. Total benefits paid and support provided under the LTD and Vocational Rehabilitation Programs (VRP) was in excess of $62.2M. LTD benefits were paid to over 3,893 members, and the VRP assisted 2,873 members.
Financial Planning
All of our financial planners hold the Certified Financial Planner (CFP) (F. Pl. in Quebec) designation. They provided comprehensive financial planning services, including advice and investment products*, to 6,439 clients (an increase of over 500 clients from the previous year) with more than $187.4M in investments under management.
* Mutual Funds provided through FundEX Investments Inc.
Financial Counselling
With a total of 9,624 appointments held, our financial counsellors were able to assist thousands of CF members, through remedial and preventative counselling, in developing and improving their money management skills and help them resolve their financial difficulties.
Personal Financial Management Education Program
Some 8,400 recruits and officer cadets, along with junior and senior non-commissioned members participated in the various personal finance courses offered through formal CF training programs (Basic Military Qualifications, Primary Leadership Qualifications, and Intermediate Leadership Qualifications.)
Canadian Forces Personnel Assistance Fund (CFPAF)
CFPAF provides financial assistance to CF personnel and their families. Through its various loan programs and grants 3,911 CF members have received: financial distress loans and grants, self-improvement loans, and education assistance loans, among others; for assistance totaling $13.3M.
Canadian Forces Group Retirement Savings Plan
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With $145M under management, this "do it yourself " group retirement savings plan is endorsed by SISIP FS and administered by the Group Retirement Services division of the Great West Life Assurance Company. This online and telephone investment service, is exclusive to all serving and former CF personnel and their families.
Financial Contributions to the CF Community
SISIP FS contributes financially to a number of funds and support programs catering specifically to the CF community. Morale and welfare unit grants alone received over $2.7M of our total contributions. Since 2002, SISIP FS has contributed close to $48M in order to continue enhancing the lives of the members and CF community at large.
The SISIP FS Network
SISIP FS offices are located throughout 18 major bases/wings across Canada, in Bagotville, Borden, Cold Lake, Comox, Edmonton, Esquimalt, Gagetown, Greenwood, Halifax, Kingston, Montreal/Saint-Jean, Ottawa, Petawawa, Shilo, St. John's, Trenton, Valcartier, and Winnipeg.
SISIP FS: a dedicated team of certified financial planners, licensed insurance representatives, financial counsellors and educators, coming together in true holistic fashion to provide serving and former CF personnel and their families the most comprehensive Financial Solutions for Today...and Tomorrow!
