The Queen's Pension Plan (QPP) is designed to ensure you have income security when you reach your normal retirement date.
When combined with personal savings, RRSPs, and government retirement plans, the QPP provides long-service employees with a level of retirement income which is comparable to or better than the average retirement income provided by other Canadian universities.
Both you and the University share in the cost of providing your pension.
Go to: Pension Self-Service
Pension Plan Guide
In September 2012 the Pension Plan was revised following collective bargaining to enhance the Plan’s long-term sustainability and enable the University to obtain temporary solvency funding relief from the provincial government. A summary of the changes, and the Plan restatement, are set out below:
Information and Reports
Additional Voluntary Contributions - Plan members can make Additional Voluntary Contributions (AVCs) either by monthly payroll deduction or by lump sum at the end of the calendar year to enhance their pension benefit.
Annual General Meeting - Obtain copies of all of the presentations from this year's Pension AGM.
Background on Pension Solvency Deficit - Like many other pension plans across Canada, the QPP was severely impacted by the global financial crisis of 2008. The solvency deficit (currently close to $300 million) is, in part, a product of that crisis – look here to find out more.
Beneficiaries - Anyone can be named as a member’s pension plan beneficiary but this designation is subject to certain restrictions under the Ontario Pension Benefits Act – look here to find out more.
Fund Managers - Look here for a list of the professional fund managers (and links to their web sites) charged with investing the assets of the QPP.
Marriage Breakdown - New rules came into effect on January 1, 2012 that impact the process of pension asset division on marriage breakdown – look here for background information and a link to the government forms.
Pension Committee Membership - This Board committee oversees the administration of the Plan and is composed of six Plan members and five Board members or appointees.
Pension Self-Service - Active employees in the Queen's Pension Plan can view their current pension enrolment data online in real time and run their own retirement pension projections.