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Inaugural chair of the University Pension Plan Board of Trustees announced

Following a comprehensive national search, the University Pension Plan (UPP) Joint Sponsors – comprising the Employee Sponsor (Faculty Associations, United Steel Workers locals, and CUPE locals) and the Employer Sponsor (University of Toronto, University of Guelph and Queen’s University) – has announced the selection of Gale Rubenstein as the inaugural chair of the UPP Board of Trustees.

The UPP is the first jointly sponsored, defined benefit pension plan for Ontario’s university sector. The official registration date of the UPP is Jan. 1, 2020. Ms. Rubenstein will play an instrumental role in the start up, launch and effective governance of the UPP.

Once fully operational, anticipated to be July 1, 2021, the UPP’s asset base will be over $10 billion. The UPP will be a sector-wide defined benefit pension plan, open to other Ontario universities to join.

The Board of Trustees – consisting of 14 trustees, including the chair – will be the administrator of the UPP and responsible for overseeing both plan investment and administration. The process to select the remaining Trustees, in which the Joint Sponsors each nominate individuals with appropriate expertise, is currently underway.

Read the full release on the UPP website.