Pension

Effective January 1, 2025, the Trent Pension plan will migrate to the University Pension Plan (UPP). At which time, UPP will be the pension administrator and service provider. UPP will administer the pension benefits earned under the Trent University Staff Plan and any benefits accrued with UPP on and after January 1, 2025. As a result, you will begin receiving pension-related services and support from UPP’s Member Services team.

For more information about UPP visit About University Pension Plan (UPP) below. 

Documents

• • OPSEU Local 365 Pension Plan

• • OPSEU Pension FAQ (March 2019)

Information Releases

• • Pension Info – Part 1 [Jan 2019]
    Background, About the OPSEU Pension Plan, Defined Benefit vs. Defined Contribution, Example calculations

• • Pension Info – Part 2 [Feb 2019]
    Why Consider Changing Our OPSEU Pension Plan?

• • Pension Info – Part 3 [Feb 2019]
    Pension Plan Alternatives Moving Forward

• • Pension Info – Part 4 [Mar 2019]
    Terms & Definitions

• • Pension Info – Part 5 [Apr 2019]
    Historical Performance

• • Pension Info – Part 6 [Feb 2020]

• • Pension Info – Part 7 [Feb 2020]

Trent University Pension Information

• • Trent U. Human Resources Pensions: https://www.trentu.ca/humanresources/human-resources-services/pension
  • Financial Services Commission of Ontario provides basic information about pension plans in Ontario. Here is what they have on our pension plan (#0310409): http://planinfoaccess.fsco.gov.on.ca/PlanDetails.aspx?PlanKey=0009092

About University Pension Plan (UPP) 

•  Welcome to UPP: Trent University Staff – My UPP
• UPP Member Handbook https://myupp.ca/upp-member-booklet-dec-2021/ 
• UPP Plan Design and Provisions  https://myupp.ca/wp-content/uploads/2024/02/2024-1-9-UPP-Plan-Design-and-Details.pdf 
• Joint Governance at UPP  https://myupp.ca/2024-1-9-upp-joint-governance-overview/
•  Leaves and disability – My UPP
• Member portal – My UPP
• Relationship changes – My UPP
• Moving to another UPP-participating employer https://myupp.ca/members/employment-changes/
• Survivor benefits https://myupp.ca/members/planning-for-loved-ones/
• Calculating your pension and contributions – My UPP
• UPP Transition Frequently Asked Questions https://myupp.ca/members/trentstaff/#faq

Information About Retirement Benefits and Possible Income Sources

• • Retirement Planning (Government of Canada):
    https://www.canada.ca/en/financial-consumer-agency/services/retirement-planning.html

• • Canada Pension Plan (CPP): https://www.canada.ca/en/services/benefits/publicpensions/cpp.html

• • Canada Pension Plan Enhancement: https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-enhancement.html

• • Old Age Security (OAS): https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security.html

• • Guaranteed Income Supplement (GIS): Note: few if any members will qualify for this low income supplement: https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/guaranteed-income-supplement.html

• • Registered Retirement Savings Plans (RRSPs): https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/registered-retirement-savings-plan-rrsp.html

• • Tax-Free Savings Accounts (TFSAs): https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account.html

• • My Service Canada Account: https://www.canada.ca/en/employment-social-development/services/my-account.html

Organizations Involved in / Advocating for Pensions

• • Association of Canadian Pension Management (ACPM): https://www.acpm.com/aboutACPM.aspx

• • Canadian Federation of Pensioners: http://pensioners.ca

• • Canadian Pension & Benefits Institute (CPBI): http://www.cpbi-icra.ca

• • CARP (formerly Canadian Association for Retired Persons): http://www.carp.ca

• • College and University Retiree Associations of Canada (CURAC): https://www.curac.ca

• • Pension Investment Association of Canada (PIAC): https://www.piacweb.org/home.html

Pensions in Ontario and Canada: Regulations, Statistics, and Commentary

• • Pensions (Financial Services Commission of Ontario): http://www.fsco.gov.on.ca/en/pensions/Pages/Default.aspx

• • What’s behind the Canadian pension crisis? The Independent 2018-05-18. http://theindependent.ca/2018/05/12/whats-behind-the-canadian-pension-crisis/

• • Why the jointly sponsored UPP is the right pension for the university sector. Benefits Canada 2019-03-04. https://www.benefitscanada.com/news/why-the-jointly-sponsored-upp-is-the-right-pension-option-for-the-university-sector-126518
  • UPP generates net return of 10.2% in 2023, net assets increase to $11.7BN https://www.benefitscanada.com/canadian-investment-review/research-markets/upp-generates-net-return-of-10-2-in-2023-net-assets-increase-to-11-7bn/
  • University Pension Plan creates C$1.2bn climate investing target https://www.newprivatemarkets.com/university-pension-plan-creates-c1-2bn-climate-investing-target/

• • Large Canadian Public Pension Funds: A Financial System Perspective. Bank of Canada 2016-06. https://www.bankofcanada.ca/wp-content/uploads/2016/06/fsr-june2016-bedard-page.pdf

• • New Facts on Pension Coverage in Canada. 2014. Drolet and Morissette, Statistics Canada. https://www150.statcan.gc.ca/n1/en/pub/75-006-x/2014001/article/14120-eng.pdf?st=3xAD7Xky

• • Pension Plans in Canada, as of January 1, 2017. Statistics Canada 2018-06-27. https://www150.statcan.gc.ca/n1/daily-quotidien/180627/dq180627e-eng.htm

• • The Extinction of Defined-Benefit Pension Plans is Almost Upon Us. 2018-12-28. Vettese, Globe and Mail. https://www.theglobeandmail.com/investing/personal-finance/retirement/article-the-extinction-of-defined-benefit-pension-plans-is-almost-upon-us/

• • Trends and Changes for Pension Plan Sponsors Heading Into 2019. 2018-12-28. Gang, Canadian Investment Review. http://www.investmentreview.com/news/trends-and-changes-for-pension-plan-sponsors-heading-into-2019%EF%BB%BF%EF%BB%BF%EF%BB%BF%EF%BB%BF-8933

• • More than 60% of Canadian DB Pension Plans Fully Funded: Mercer. 2018-10-02. Advisor’s Edge. https://www.advisor.ca/news/more-than-60-of-canadian-db-pension-plans-fully-funded-mercer/

• • Statistics Canada has an entire section on Pensions and Retirement Income Programs, where you can explore various statistics by date and region:https://www150.statcan.gc.ca/n1/en/subjects/income_pensions_spending_and_wealth/pensions_and_retirement_income_programs

• • The Retirement Age in Canada is Too Low- and That’s a Growing Problem. 2019-02-01. Taylor, Macleans. https://www.macleans.ca/opinion/the-retirement-age-in-canada-is-too-low-and-thats-a-growing-problem/

• • The Office of the Superintendent of Financial Institutions (Government of Canada) has a page dedicated to pension plans, including news, a guide for members, a glossary of terms, and statistics. http://www.osfi-bsif.gc.ca/Eng/pp-rr/Pages/default.aspx#

• • 2017 Report (as well as other years) on the Funding of Defined Benefit Pension Plans in Ontario- 14^th Annual Report. 2018-08. Financial Services Commission of Ontario. https://www.fsco.gov.on.ca/en/pensions/actuarial/Pages/risk-based_supervision.aspx

• • Pension Plans: Managing Risks. In: Annual Report 2016-2017, Financial Services Commission of Ontario. https://www.fsco.gov.on.ca/en/about/annual_reports/Pages/ar2016-pensions.aspx

• • 2018 Ontario Budget: Registered Pension Plan Issues. 2018-04-02. Blakes Business Class. https://www.blakesbusinessclass.com/2018-ontario-budget-registered-pension-plan-issues/

• • Workplace Pension Plans. 2019. Financial Services Commission of Ontario. https://www.fsco.gov.on.ca/en/pensions/retirement/pages/workplace-pension.html

• • Risk and Reward in Public Sector Pension Plans: A Taxplayer’s Perspective. 2018-12-06. Fraser Institute. https://www.fraserinstitute.org/studies/risk-and-reward-in-public-sector-pension-plans-a-taxpayers-perspective

• • What’s the Retirement Age? 2019. Wealthsimple. https://www.wealthsimple.com/en-ca/learn/whats-the-retirement-age
  • Why the Canada Pension Plan will still be solvent — and then some — when you retire. https://www.cbc.ca/news/business/cpp-explainer-1.5133984

UPP in the News