Human Resources

Human Resources

Human Resources

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Notice of Proposed July 1, 2021 Conversion to the University Pension Plan Ontario (“UPP”)

TO ALL ACTIVE MEMBERS, FORMER MEMBERS, RETIRED MEMBERS AND OTHER PERSONS WITH ENTITLEMENTS UNDER THE FOLLOWING PENSION PLANS:

Pension Plan for Non-Professional Staff of University of Guelph Registration No. 0324632
Retirement Plan of University of Guelph Registration No. 0324624
Pension Plan for Professional Staff of University of Guelph Registration No. 0324616
Revised Pension Plan of Queen's University Registration No. 0344929
University Of Toronto Pension Plan Registration No. 0312827

Be advised that the University of Guelph, Queen’s University and the University of Toronto each propose to convert the above-noted pension plans through a transfer of assets into the UPP, a new jointly-sponsored pension plan (“JSPP”). The conversion process is regulated under section 80.4 of the Pension Benefits Act. The conversion of any of the above-noted pension plans to the UPP requires that at least two-thirds of its active members consent and no more than one-third of its former members, retired members and other persons entitled to benefits, as a group, object. Trade unions may consent on behalf of the active members represented by such trade union.

A JSPP is a type of defined benefit pension plan in which employers and members are jointly responsible for making all decisions about the terms and conditions of the pension plan and make equal contributions towards the funding of the plan, including any deficits. The UPP would be administered by a Board of Trustees appointed by the employers and members. In the unlikely event that there is a wind-up of the JSPP the amount or commuted value of a pension or ancillary benefit may be reduced and the benefits provided by the JSPP are not guaranteed by the Pension Benefits Guarantee Fund.

On March 25, 2019, individualized notice and consent packages were sent to the last known addresses of all persons with pension entitlements under one or more of the above-noted pension plans. No packages were sent if the applicable university has good reason to believe the last address on file was no longer accurate.

If you have an entitlement under one of the above-noted pension plans, you are entitled to information about the proposed conversion to the UPP and to participate in the consent process which will end on June 28, 2019.

If you have not received a notice package, please contact the applicable university to verify your entitlement and to ensure that relevant information can be sent to you.

University of Guelph
Human Resources (Total Compensation) 519-824-4120 Ext. 52142

Queen’s University
Queen’s Pension Services 613-533-2070

University of Toronto
U of T Pension Services 1-888-852-2559

You may also contact the Financial Services Commission of Ontario for information:
Toll free: 1-800-668-0128