A NEW PATH FOR ONTARIO UNIVERSITY PENSIONS
University administrations, faculty associations and unions at University of Toronto, University of Guelph and Queen’s University have been working diligently to develop a new pension plan that would cover employees at all three universities. Once it is up and running, it will be available to other Ontario universities as well. This new pension plan, which would be a multi-employer jointly sponsored pension plan (JSPP), is a type of defined benefit (DB) plan, and it represents a unique opportunity to reshape and sustain the retirement income system in the Ontario university sector.
The goal is to develop a sector-wide plan – one that’s open to any other Ontario university. A sector-wide, multi-employer JSPP would create a significant pool for sharing pension costs and risks.
This project will affect the pensions of University of Toronto staff-appointed members. At the present time, this project does not include members at Victoria or St. Mike’s, but these universities may consider joining the plan later.
This webpage will keep you updated on this important project. We want all of our members to be well-informed about the process, the options before us and their right to vote on what ultimately happens with the pension.
More information and resources
- UPP: A New Path for Ontario University Pension, February 2018
- Video: Update on the University Pension Project by Alex McKinnon Department Leader, Research, Public Policy & Bargaining Support USW National Office, June 28, 2017 (Coming Soon)
- UPP3 Backgrounder #2 – A Closer Look at the JSPP Option, June 2017
- UPP3 Backgrounder #1 – Current Status of University Pension Plans, June 2017
- Letter from USW District 6 Director Marty Warren, June 2017
- Letter from Colleen Burke, June 26, 2017