Scotiabank adds gender affirmation coverage to benefits for employees in Canada and U.S.

TORONTO, May 13, 2021 /PRNewswire/ - Scotiabank today announced it will offer coverage for enhanced gender affirmation procedures for eligible employees and their dependents in Canada and the United States. Effective June 1, 2021, the addition of gender affirmation benefits to the Canadian and US plans will help fill the gaps in coverage to better support trans people on their own personal gender affirmation journey.

"We feel strongly that all of our employees, and their dependents, should have access to benefits that allow them to be their authentic selves in all aspects of their lives, including at work," said Barb Mason, Group Head and Chief Human Resources Officer. "We strive to be the employer and Bank of choice for the diverse communities in which we serve, and to do that we will keep focusing on constantly evolving our employee offerings to be as inclusive and accessible as possible  while challenging norms and stigmas to advance inclusion for trans and non-binary individuals in the workplace."

In June 2019, Scotiabank signed onto the United Nations LGBTI Standards of Conduct for Business, with the aim to tackle discrimination against Lesbian, Gay, Bi, Trans, & Intersex People. In consultations with both employees and external parties, it was identified that benefits barriers remain for trans people living and working in Canada and the United States. One of these barriers is in the identification of which transitioning procedures are considered eligible for coverage and which would have been historically defined as cosmetic. This new offering would build on standard benefits to include coverage for procedures such as, but not limited to, electrolysis, rhinoplasty, voice training/surgery, and facial feminization/masculinization.

"Employers have an important role to play in advancing LGBTI equality and inclusion. Policies like Scotiabank's are a necessary step towards creating a more just and sustainable world that benefits all people," said Salah Husseini, Associate Director at BSR, which serves as the Secretariat for the Partnership for Global LGBTI Equality (PGLE). "We have been pleased to partner with Scotiabank, both through their work with BSR and their participation in PGLE, on the development of policies and approaches that foster diversity and promote respect for all employees."

In support of the LGBT+ communities, a few examples of Scotiabank's actions include:

• Medical benefits coverage to LGBT+ same sex partners of employees in Canada, United States, Brazil, Chile, Colombia, Costa Rica, Mexico, Panama, Peru, Uruguay, and, most recently, Trinidad & Tobago.
• Updated its policy in Canada relating to the reimbursements made under the Wellbeing Account to include mental health-related expenses for any family members (not just eligible dependents), in direct response to an employee looking for coverage for her trans daughter's mental health expenses.
• Trained over 19,000 Scotiabankers working in Canadian branches and contact centers in gender identity and expression inclusion training to build a more inclusive experience for all LGBT+ customers.
• Added gender-neutral and accessible washrooms in several branches and Scotiabank head office spaces.
• Provided employees with the ability to share their pronouns with the option to make them visible in our internal systems and email signatures.
• Committed $500,000 to The 519 for the development of a suite of programs designed to increase the economic resiliency of LGBT+ newcomers and refugees which will support 1,140 LGBT+ community members across Canada.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 90,000 employees and assets of approximately $1.2 trillion (as at January 31, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

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