The UPP was established on January 1, 2020, with the appointment of a 14-person Board of Trustees as the legal administrator of the new JSPP that will serve pension plan members and retirees at Queen’s University, University of Guelph and University of Toronto. It will over time serve other Ontario universities who wish to join, with the support of their pension plan members.
This new JSPP is designed to enhance the long-term sustainability of defined benefit pension plans in the university sector for generations to come, joining other world-recognized Ontario pension plans that have adopted the JSPP model. Its stable funding regime will provide predictability for both employees and employers. And the JSPP model means shared governance between the employer and employee sponsors, giving members a new level of involvement and control over the governance of their pension plan.
The UPP becomes responsible for the new plan’s administration and the investment of its assets on July 1, 2021, marking a watershed in the history of pensions in Ontario’s university sector.
This site provides background on the UPP and introduces the new Board of Trustees. More information will be posted to this site as it becomes available.