Welcome to the University Pension Plan website

Developing a jointly sponsored pension plan (JSPP) for Ontario’s university sector

University administrations, faculty associations, unions and other staff groups at University of Toronto, University of Guelph and Queen’s University have been working diligently to develop a new pension plan that would cover employees at all three universities: the University Pension Plan (UPP). Once established, the JSPP will be open to other Ontario universities joining. This will create a larger pool for sharing pension costs and risks.

This site explores some of the key elements of the JSPP solution and its advantages, as well as anticipated next steps and timing. Additional information will be posted to this site as it becomes available.


NEW!
On Thursday November 15, 2018, the Ontario Minister of Finance, the Honourable Victor Fedeli released A Plan for the People: Ontario Economic Outlook and Fiscal Review (the Fall Economic Statement). The full Fall Economic Statement can be found here and it contains the following positive statements regarding a JSPP for the university sector:

CREATING EFFICIENCIES IN THE PENSION SECTOR 
Supporting Mergers and Conversions

 As the population ages and more people retire, it is more important than ever to look at making pensions more efficient. Broader public‐sector employers have been working towards the conversion of their single‐employer pension plans to jointly sponsored pension plans (JSPPs). There are several mergers into JSPPs currently under way to reduce costs and improve efficiencies, including a number in the hospital, municipal and university sectors. Several universities are working to merge their individual plans into a single JSPP which will be available to the university sector.

The government is committed to improving the pension system for the university sector. A new JSPP is a means of obtaining efficiencies of scale, improved investment opportunities and savings in plan administration. The new JSPP would allow universities to focus on their core mandate of providing high‐quality education for students rather than diverting resources to managing their single‐employer pension plans.

Based on the shared risk structure between plan members and employers, it is expected that this newly established plan would be treated similarly to other broader public‐sector, solvency‐exempt JSPPs following a successful conversion and a request from the newly established university plan.


Upcoming UPP Town Halls/Lunch & Learns

Date Audience Institution Location Time Host
December
December 14 Retirees Queen’s University Ellis Auditorium 1pm - 2:30pm University Administration
December 7 Non-unionized staff University of Toronto St. George
Sanford Fleming, room 1105
10am - 12pm UofT non-unionized staff
December 4 Non-unionized staff University of Toronto UTSC
Humanities Wing, room 214
2pm - 4pm UofT non-unionized staff
November
November 30 *Members of any employee group are welcome Queen's University Grant Hall 10am - 12pm University Administration
November 30 QUFA members Queen's University Grant Hall 2pm - 4pm University Administration
November 30 Non-unionized staff University of Toronto UTM
Instructional Building, room 360
2pm - 4pm UofT non-unionized staff
November 28 Retirees University of Toronto St. George
MS 3153
2pm University Administration
November 27 Retirees University of Toronto UTSC
HW 305
2pm - 4pm University Administration
November 26 Faculty University of Toronto UTSC
EV 152
10am - 12pm University Administration
November 26 *Members of any employee group are welcome University of Toronto UTSC
EV 152
2pm - 4pm University Administration
November 26 All P&M and other non-represented employees University of Guelph Willson Hall, Ridgetown Campus
1:30pm - 2:30pm Professional Staff Association (PSA)
November 22 *Members of any employee group are welcome Queen's University Queen's University 10:30am - 12:30pm University Administration
November 20 All P&M and other non-represented employees University of Guelph Ontario Veterinary College Lifetime Learning Centre Room 1714
11am - 12pm Professional Staff Association (PSA)

Note: UTFA is conducting a number of Q&As in departments. If you would like UTFA to visit your department, please email UTFA at faculty@utfa.org.

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Are you a retiree or a survivor of a retired member?


Key dates
Winter/Spring 2018
  • Website launch
  • Initial joint communication release
  • Regular newsletters/member updates
  • Stakeholder and member webinars
  • Member meetings and town halls
Summer/Fall 2018
  • Regular newsletters/member updates
  • Stakeholder and member webinars
  • Member meetings and town halls
  • Ongoing stakeholder education
  • Leadup to consent process
Winter 2018/2019