The Universities Pension Plan
For some time, negotiations have been proceeding to fold the present University of Toronto pension Plan into a jointly-sponsored plan in which the University of Toronto will join with Queen’s University and the University of Guelph in a University Pension Plan. For those of us who are already retired, there will be no change in the terms of our pension — everything will continue as before.
The plan will be supervised by a Sponsor Board and a Board of Trustees in which beneficiaries of the plan and the administrations will have equal representation. UTFA in particular will have a permanent seat on the Sponsor Board. We are in the final stages of working out the details before the new plan is ratified by the employee and administrative organizations involved. To come into force, at least two thirds of the active members of the current plans must assent and no more than one third of the retired members can object.
You can find all the details by going to either of the websites www.utfa.org or www.universitypension.ca.