Town Halls on the University Pension Plan

Date October 22, 2018
To: Participants in the University of Toronto Pension Plan
From: Angela Hildyard, Special Advisor to the President & Provost, University of Toronto

The University of Toronto, University of Guelph and Queen’s University, together with their faculty associations, the United Steelworkers (USW) and representatives of the non-unionized employees at the three universities (through the Ontario Association of Non-Unionized University Employees) – are working diligently to develop a new pension plan that would cover employees at all three universities, The University Pension Plan Ontario (UPP).

This new pension plan, which would be a jointly sponsored multi-employer pension plan (JSPP), is a type of defined benefit (DB) plan, and it represents a unique opportunity to reshape and sustain the retirement income system in the Ontario university sector. It is the same model used by other notable pension plans such as the Ontario Teachers’ Pension Plan, OMERS (municipal employees) and CAAT (colleges). Once it is up and running, it will be available to other Ontario universities as well.

Benefits that are already earned under existing plans will not change. The pension benefits of retired members also will not change.

The University of Toronto is holding a series of information sessions for all employees on the pension plan proposal. Members will be part of a consent process that is expected to begin in early 2019.

Campus Date Group Time Location
St. George November 2 Faculty 10 am – 12 pm OISE G162
All 2 pm – 4 pm MSB 3154
November 5 All 2 pm – 4 pm OISE G162
UTM November 12 Faculty 10 am -12 pm UTM Room, William G. Davis Building
All 2 pm – 4 pm UTM Room, William G. Davis Building
November 14 Retirees 10 am – 11:30 am UTM Room, William G. Davis Building
UTSC November 26 Faculty 10 am -12 pm EV 152
All 2 pm – 4 pm EV 152
November 27 Retirees 2 pm – 4 pm HW 305

Information about the proposed pension plan is available on the UPP website at www.universitypension.ca, where you can sign up to receive updates. You also can find information at pension.hrandequity.utoronto.ca/upp/

If you have not already done so, we encourage you to visit these sites and participate in the ongoing discussions.