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University Pension Plan update

Queen's University is moving forward with plans to create a new type of pension plan for the Ontario university sector, along with partners the University of Toronto and the University of Guelph. Once it is up and running, it will be available to other Ontario universities as well.

University administrations, faculty associations, unions and other staff groups at all three institutions have been working diligently to develop a shared pension plan for employees at all three universities.

This new University Pension Plan, would be a multi-employer jointly sponsored pension plan (JSPP), a contributory defined benefit plan in which the employers and pension plan members share responsibility for plan governance and funding.

joint communication on the University Pension Plan Ontario can be found on a new University Pension Plan Ontario website. The website will provide all the latest information and other resources on the University Pension Plan.

Additional information specific to Queen’s employees will be made available over the next few months.