University Pension Plan (UPP)
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 jointly sponsored pension plan (JSPP) will be open to other Ontario universities joining. This new University Pension Plan, would be a multi-employer JSPP, a contributory defined benefit plan in which the employers and pension plan members share responsibility for plan governance and funding.
For UPP Updates, Notices and to access the UPP Fact Sheet please click on the following links:
- UPP Updates
- UPP Notices
- UPP Timeline
- UPP Fact Sheet
- My Retirement Pension Portal Update
Conditional on regulatory approvals, the University of Guelph will convert the three pension plans sponsored by the University (the “UofG Pension Plans”) to the University Pension Plan Ontario (UPP) effective as of July 1, 2021. As part of the transition to the UPP, and in order to assist current members of the UofG Pension Plans who may be thinking of retiring after July 1, 2021, the pension projection tool available through Employee-Self Service has been enhanced.
The pension projection tool now projects benefit accrual:
- Under the UofG Pension Plans’ provisions for service before July 1, 2021, and
- Under the UPP provisions for service on and after July 1, 2021. For information on the UPP provisions please refer to the Summary of Key Features of the Proposed UPP available on the UPP website (www.universitypension.ca).
Additional information, including joint communications, key features of the proposed UPP and FAQs can be found on the University Pension Plan Ontario website. If you have any questions, please email the university at UPP@uoguelph.ca.