FAQs
Click on the sections below for more information.
Retirement and Savings
- Why is there a limited number of investment funds in the SLB Canada Retirement and Savings Plan?
As a group plan sponsor, we have a responsibility to act in the best interests of plan members. This includes offering a carefully selected, diversified lineup of investment funds that have been thoroughly vetted for quality and suitability.
By offering a curated list of available funds, we can more effectively monitor performance, ensure regulatory compliance, and reduce the risk of including high risk or inappropriate investment options. This approach is standard practice across group retirement plans.
The SLB Canada Pension Committee and Sun Life review the investment lineup performance and compliance on a regular basis. Adjustments are made as needed to maintain quality and alignment with plan objectives.
You can review and update your investment selections at any time by logging into your account on the Sun Life website.
- What happens to my SLB Canada Retirement and Savings Plan if I transfer out of Canada but remain a SLB Employee?
While you are employed by SLB globally your Defined Contribution Pension Plan (DCPP) will remain in Canada and is restricted from withdrawal. You may have other options regarding your other Retirement or Savings products. Please contact Sun Life for more information.
Although you will no longer be able to contribute to any of the plans, your products will continue to earn investment returns, and you can make investment changes and use the online planning tools. You can continue to view your accounts online anytime through Sun Life.
- What happens to my Retirement and Savings Plan if I leave or retire from SLB?
Sun Life is the SLB Retirement Savings Plan Administrator. They will assist you and provide you details on what you can do with your money.
Following your final pay with SLB, Sun Life will be notified of your termination/retirement and your status with Sun Life will be updated from active to terminated. This will trigger a separation package that will be processed within 10 business days and mailed to the address on file with Sun Life. Mailing times will vary depending on your location. This package will include your account balances and the choices about what to do with your money. You do not need to wait to receive this package to learn your choices. You can contact Sun Life at any time to speak with a licensed Financial Consultant at no charge to discuss your options. You will continue to be able to view your account balances online at any time.
How to reach Sun Life:
- View your account balances online at Sun Life.
- Licensed Financial Consultant: If you live in North America, call Sun Life toll-free at 1-877-893-9893. The international number is 1-800-2527-3211, Monday to Friday, 6:00 am to 6:00 pm, MT.
- Go mobile: Check your balances and see how your funds are doing. Download the my Sun Life mobile app on Google Play or the Apple App Store.
Flex Benefits
- How much will my Flex Benefits cost?
Your coverage cost depends on what you choose. With Flex Benefits, you can tailor your benefits to match your needs.SLB provides enough Flex dollars to fully cover Option 2 for both Extended Health Care and Dental Care, including coverage for yourself and/or your dependents. If you choose a higher level of coverage—such as Option 3 or any optional benefits—you will need to pay the additional premium through payroll deductions.
When you enroll the enrollment tool will show your available Flex dollars, as well as the cost of each plan and option. As you make your selections the enrollment tool will calculate any required payroll deductions or excess Flex dollars.
- Can I cover my parents under my Extended Health Care and Dental Care plan?
No, you cannot cover your parents under the SLB Extended Health Care and Dental Care plan. Parents are not considered eligible dependents under standard group health policies in Canada. You can read a detailed description of eligible dependents on the Dependent page.
Extended Health Care
- How do I know if a drug is covered by our plan?
Go online to Sun Life. On the Benefits page, click ‘Drug lookup’ to check if a drug is covered under the SLB plan, and to see the percentage of cost that is covered.
- What is a dispensing fee?
A dispensing fee is the amount that a pharmacist charges to fill your prescription. It includes the cost of maintaining a database of your prescriptions to ensure there are no adverse drug interactions, the time it takes to advise you how to take your medication, and additional services such as home delivery, email reminders or late-hour opening. Dispensing fees may range from $5 to $16 per prescription. Since the dispensing fee is the deductible on our plan, it’s wise to shop around. If you need the premium services, you may be willing to pay the higher cost. If not, you may want to find a lower-cost pharmacy.
Please note when you purchase your prescription drugs from a Costco pharmacy, your dispensing fee is covered and payable at 100% by Sun Life, and a Costco membership is not required.
- What is the difference between a generic drug and a brand name drug?
Generic drugs have the same medicinal ingredients as brand name drugs and must meet the same manufacturing standards. The only differences are some of the binding agents and the price. Our plan contains automatic substitution when a generic drug is available.
- Is my drug card like a credit card?
No, your drug card is not like a credit card. Your drug card allows your pharmacist to find out whether the drug is eligible for coverage under the SLB plan. If the drug is eligible, the pharmacist can receive payment of the covered amount directly from Sun Life. This means that you will be responsible only for your share of your drug costs. You will have to pay the pharmacy the dispensing fee and your share of the cost of the prescription, if any.
- Do I have medical coverage while travelling outside of Canada?
Your Extended Health Care plan covers you and your eligible dependents for medical emergencies while you’re travelling outside of your home province or Canada for up to 90 days of travel, and medical emergency costs of up to $3 million per person per lifetime.
Global Excel Management (GEM), (Sun Life’s emergency travel assistance partner) will help you and your family through difficult situations while travelling at any time, 24 hours a day, 7 days a week. Please call 1-800-511-4610 in the USA and Canada; 1-519-514-0351 from anywhere else. For detailed coverage, please refer to Emergency Medical Travel Coverage page.
Dental Care
- If I use the $2,500 orthodontic maximum under Dental Option 2 and then switch to Option 3, will I receive an additional $3,500 in orthodontic coverage?
It does not work that way. The $2,500 and $3,500 are lifetime maximums. If you reach the $2,500 in Option 2 and then move to Option 3, you’ve already used up two-thirds of your maximum. The total maximum lifetime reimbursement for each covered person is $3,500, and that’s only if you’re in dental Option 3.
- Why does Dental Care Option 3 have a two-year lock in provision?
Dental Care Option 3 offers enhanced coverage, including a higher annual maximum and higher orthodontic lifetime maximum. To make it more affordable, the extra cost is spread over two years. This ensures the cost is fairly shared among those who benefit from the added coverage.
Long-Term Disability
- Why is Long-Term Disability coverage mandatory?
SLB is committed to helping every employee safeguard against financial hardship.To support this goal, Long-Term Disability (LTD) coverage is a mandatory benefit—not optional. Because LTD is an insured benefit, our agreement with the insurer requires that all eligible employees participate.
While we rarely anticipate becoming disabled, the reality is that illness or injury can affect anyone at any time. LTD coverage ensures that you have a financial safety net in place should the unexpected happens.
Other Questions
- How do I register on the my Sun Life website?
Sun Life is the service provider for SLB Flex. You’ll need online access to Sun Life so that you can join plans, manage your account, view your statements and make use of the tools available to you.
Go to mysunlife.ca or download the my Sun Life mobile app and click on Register to create an account. Enter your email address, then check for a confirmation email. Enter the code sent to you to finish your registration. Your member ID is your GIN with no leading 0s and your certificate number on the group retirement side is 19739 followed by your GIN.
You can also Single Sign On (SSO) to Sun Life from Flex Benefits Enrollment website.
If you need help or have any questions, you can call the Sun Life Customer Care Centre toll-free at 1-866-896-6976, or outside North America at 1-800-2527-3211 Monday to Friday 6:00 a.m. to 6:00 p.m. (Mountain Time).
- How do I update my address with Sun Life?
Please go to PeopleConnect and click on “Home“ > “My Employee File“ > “Personal Information”.
Go to Contact & Address and click on the pencil for “Address”, enter the effective date for the change and hit save.
If you do not have an address on file please click on “Add Address”, submit your message for the approvers and click on “Confirm”.
Once the address is updated with People Connect, it will flow and update on the Sun Life end in about 2 weeks.
- I haven’t received or I have lost my Sun Life drug card?
If you haven’t received your drug card, please contact Sun Life. In the meantime, you can go online to Sun Life and print additional cards, or you can access a digital card on the Sun Life app. Note that these will only show your name; the card is not tailored for individual family members.
For any further help, please contact Sun Life toll-free at 1-866-896-6976, or outside of North America at 1-800-2527-3211 Monday to Friday, 6:00 a.m. to 6:00 p.m. (Mountain Time).
