Category Archives: Queen’s Pension Plan

One of the most-discussed topics among faculty and staff right now is the status of the Queen’s Pension Plan and the effects various adjustments might have on employee benefits. In an effort to help answer some of those questions, we … Continue reading →

One of the most-discussed topics among faculty and staff right now is the status of the Queen’s Pension Plan (QPP) and the effects various adjustments might have on employee benefits. In an effort to help answer some of those questions, … Continue reading →

The QPP is in bad financial shape and the plan will continue to deteriorate, the longer it takes to reach agreements on required changes. The university and employee groups have a shared goal: to ensure the long-term sustainability of the … Continue reading →

Short of reducing the minimum guarantee formula, this is the only option that would reach the savings targets required under the province’s solvency relief plan. That being said, the Queen’s Pension Plan (QPP) is primarily a money purchase plan, so … Continue reading →

The increases would be phased in gradually over several years, with each contribution increase being less than 1% of gross salary. The impact on take-home pay would actually be less, since the income tax deduction is factored in by payroll: … Continue reading →

Increasing employee contributions appears to be the option of choice for other university plans facing similar significant funding shortfalls: Guelph’s CUPE 1334 local recently negotiated changes that will see contributions increase to 7.6%, up to the Year’s Maximum Pensionable Earnings … Continue reading →

In the early 1990s, the QPP, like many pension plans at that time, had an actuarial surplus on its defined benefit (minimum guarantee) side of the plan: $24.7 million at the time of the August 31, 1991 valuation. But new … Continue reading →

Quick action is required to reverse the underfunding of the plan and make the most of the solvency relief options that have been put forward by the Ontario government. The plan’s actuaries have confirmed that the university needs to have … Continue reading →