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."
Standing by our commitment to the Canadian Forces members
This year marks a milestone anniversary for SISIP Financial Services (SISIP FS); indeed, we celebrate 40 years as the delivery arm of financial services for the Canadian Forces (CF). SISIP FS understands that careers in the CF have very unique requirements and needs, and that is why our financial products and services provide solutions tailored to the military lifestyle. In recent years, SISIP FS have experienced sustained growth as they strive to provide serving and former CF members and their families with the best Financial Solutions for Today...and Tomorrow! |
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2008… A year in review
With a dedicated team of professionals, SISIP FS provides term life and disability insurance, financial planning, financial counselling and education, as well as loans and grants through the Canadian Forces Personnel Assistance Fund (CFPAF).
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Services Available
Insurance
With licensed insurance representatives across Canada, SISIP FS offers term life and disability insurance options that are both competitively priced and adapted to the special needs of the military community.
As of December 2008, approximately 132,600 CF members, former members, and their spouses/partners were insured under the various term life insurance plans. Over $40M in life insurance benefits were paid to beneficiaries and the SISIP FS insurance coverage in force was $24.6B.
Close to 65,000 Regular Force members and some 34,000 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 $50.5M. LTD benefits were paid to 3477 members, and the VRP assisted 2,857 members.
Financial Planning
All of our financial planners hold the CFP designation. They provided comprehensive financial planning services, including advice and investment products, to 5,637 clients with more than $112.4M in investments under management.
Financial Counselling
Our financial counsellors assisted almost 9,000 CF members in the resolution of their financial problems and in improving their money management skills.
Personal Financial Management Education Program
Some 10,033 recruits and officer cadets, along with junior supervisors and senior leaders participated in the various personal finance courses offered through formal CF training programs (Basic Military Qualifications, Primary Leadership Qualifications, Intermediate Leadership Qualifications).
Canadian Forces Personnel Assistance Fund (CFPAF)
CFPAF provides financial assistance to CF members and their families. Through its various loan programs and grants, some 3,950 CF members have received: financial distress loans and grants, self-improvement loans (SILP), and education assistance loans (EALP), among others; this means there are over $12.5M in the hands of CF members and their families.
Canadian Forces Group Retirement Savings Plan
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With $150M 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 group plan, offered through web and telephone access, is exclusive to all serving and former CF members and their families.
Contribution to the CF Community
SISIP FS has also touched the lives of many CF members by financially supporting the following causes:
The SISIP FS Network
SISIP FS has a team of 120 dedicated professionals located throughout 18 offices on major bases/wings across Canada, in Bagotville, Borden, Cold Lake, Comox, Edmonton , Esquimalt, Gagetown, Greenwood, Halifax , Kingston, Ottawa, Petawawa, Saint-Jean, Shilo, St. John's, Trenton, Valcartier, and Winnipeg.
