The Plan serves UBC faculty and administrative executive staff and is co-administered by the UBC Pension Administration Offi ce and Sun Life. If you are under age 55 and leave UBC or move to an ineligible position within UBC, you are entitled to one of three options: For more information, visit the Leaving UBC page. There are two ways in which you can vote. Overview Financials Service Providers Investments Insurance Information. 0.7% of your Best Average Pensionable Earnings up to the Average Year’s Maximum Pensionable Earnings X your years of pensionable service. Your board of trustees wants to keep you updated on matters related to your pension plan. The Plan is among the most valued benefits offered by the University and is designed to provide stable lifetime retirement pensions. The Plan is designed to help you save for your future and provide you with a stable lifetime retirement pension. Vancouver Campus. A lump sum amount, which is the contribution refund or the commuted value of your accrued pension, whichever amount is greater at the time of calculation. Read More, Learn how to sign up to receive your Plan newsletter by email and continue to receive the latest Plan news and information about your pension benefits. Individuals hired on and after January 1, 2007 who have already joined the Staff Pension Plan and whose earnings at a later date exceed the earnings threshold, will be transferred to the Faculty Pension Plan. What are the benefits of being a member of the Staff Pension Plan? If you only have Pre-July 1, 2009 pensionable service, your benefit will be calculated using the following formula: 2% of your Best Average Pensionable Earnings X your years of pensionable service Retiring? Voluntary Pension Contributions. News. The income you receive at retirement is not pre-determined and is based on the assets within your account at the time of retirement. We remain committed to you. Florida UBC Supplemental Pension Plan. UBC Staff Pension Plan: 2017 Annual Report. Read More, Plan members have 24/7 access to their personal pension and beneficiary information and can manage their communication preferences through myPension. If you have a non-UBC email address associated with your CWL account you can either: Search UBC.ca. Contact UBC. About the University. less If you are a new employee, refer to the benefits enrollment code in your offer letter to see which plan applies to you (select the Staff Pension Plan for those codes that start with SEP and the Faculty Pension Plan for codes starting with FEP). Trustees of the Florida UBC Supplemental Pension Plan Plan Rating. Quickly and securely register using our improved website registration process! The focus of your working years is to grow your account balance to help you achieve your retirement goals. They will join the Faculty Pension Plan instead. We’ve gone green – update your email address. You’ll receive an unreduced pension, calculated according to the formula(s) above if: If you are not eligible for Special Early Retirement, your pension will be adjusted for each year that you retire before age 65 to account for the longer period you will be receiving a pension. Please contact Member Services at any time with your questions. You do not pay tax on the University’s contributions. CLIENT SIGN IN Email/Access ID. Disability Benefits for Management & Professional, Service Unit Director, CUPE 2278 and Administrative Executives Enrolled in the Staff Pension Plan; Income Replacement for Faculty, Academic Executive and Staff High Earners Enrolled in the Faculty Pension Plan; UBC Disability Benefit Plan … Collectively, the membership, board, and plan representatives share a responsibility to safeguard our long-term investment. Vancouver, BC Canada V6T 1Z3. 2. Please note: Once you turn age 55, this option is only available if you have a small benefit. Individuals hired on and after January 1, 2007 whose earnings exceed the earnings threshold defined in the Staff Pension Plan will be ineligible for the Staff Pension Plan. The UBC Faculty Pension Plan (FPP) is one of Canada’s largest defined contribution pension plans and it is among the most valued benefits offered by the University. This is an election of two UBC Staff Pension Plan members to serve as Board Members for a four-year period from January 1, 2019 to December 31, 2022. All faculty and administrative executive personnel and staff high earners who are appointed for one year or more, and whose appointment is 50% or more of the full time equivalent (FTE) may be eligible to join the pension plan effective the date of their appointment. By Chelsey Maher on May 24, 2018. If you are a new employee, refer to the benefits enrollment code in your offer letter to see which plan applies to you (select the Staff Pension Plan for those codes that start with SEP and the Faculty Pension Plan for codes starting with FEP). The UBC FPP gives you access to a selection of diversified investment options. Your Plan newsletter, UBC FPP Update, is sent to your UBC … The Plan is financed by fixed contributions made by you and UBC. Full-time and part-time salaried employees and CUPE 116 hourly employees are required to join the SPP on the same date that you are enrolled for basic life insurance. Okanagan Campus. The Plan’s audited Financial statements as at … myPension is secure website for members of the UBC Staff Pension Plan (SPP) to access their personal pension information, review their beneficiaries, see their service accruals (if applicable), and calculate pension estimates to better understand pension income for retirement planning. By signing in, you agree to these terms and conditions. Please refer to the Plan’s Funding Policy for additional information. New UBC Employee? The UBC FPP is a Defined Contribution Pension Plan and is also known as a capital accumulation plan or money purchase plan. Election packages were mailed to Plan members on Tuesday, October 23, 2018. 2 UBC Faculty Pension Plan WELCOME TO THE UBC FACULTY PENSION PLAN With your appointment at the University of British Columbia (UBC), you have become a member of the UBC Faculty Pension Plan (FPP). Your Pension Benefits The Board of Trustees is pleased to welcome you to the Pension benefit website for the United Brotherhood of Carpenters Pension Plan. Please refer to the Investments page for further information. The UBC Staff Pension Plan Election for two Pension Board members is now under way. The Plan may be amended from time to time to keep the benefits in line with the Plan’s ability to pay for them.The Plan is administered by the UBC Pension Administration Office, under the direction of the SPP Board. Register today! UBC Sites. Read More, The UBC Staff Pension Plan (SPP) is among the most valued benefits offered by the University. Events. Pensions. UBC is invested in your financial future. The staff pension plan is a unique and pivotal part of our UBC experience. The UBC Pension Administration Office is here to assist you with any questions you may have regarding your pension benefits throughout your retirement. The past, current and new contribution rates are shown below. An early retirement reduction factor of 4% will be applied to any pensionable service accrued up to and including December 31, 2011. About UBC. UBC Pension Adminstration Office. If you retire before age 65, the calculated pension value may be reduced. If you only have Post-July 1, 2009 pensionable service, your benefit will be calculated using the following formula: 1.8% of your Best Average Pensionable Earnings X your years of pensionable service. Your pension, at retirement, is based on your pensionable service and your best average earnings (salary). Learn more About the Plan. Recover your CWL login or Reset your CWL password via Email. You can start your pension from the SPP as early as age 55 and as late as December 1 of the year in which you turn age 71. In-person visits are suspended temporarily until further notice. Effective under the new legislation, the Payroll Department must deduct CPP contri… Log in to your myPension account to manage many aspects of your pension: Pension Administration Office Holiday Closure, Changing Your Address or Personal Information, Moving Into a New Position or Changing Your Hours, Marriage, Common Law, Separation & Divorce, Power of Attorney & Third Party Authorizations, Guide to Reading Your Annual Member Statement, Receive your UBC Staff Pension Plan Update newsletter by email, Access your pension information 24/7 through myPension, view your basic pension information and beneficiaries, estimate your pension at a specific retirement age. 201 - 2389 Health Sciences Mall. UBC Campuses. Your contributions are made by payroll deduction on a semi-monthly basis as follows: Our Contributions Calculator can help you determine your required contributions. A Pension Board elected from current and retired staff oversees the operations and design of the Plan. If you are age 55 or over and leave UBC, retire, or move to an ineligible position within UBC, you are entitled to one of three options: For more information, visit the Retiring page. Pension trustees should be able to show the members that the plan has been managed as agreed upon by all parties ahead of time. For individuals who transfer to the Faculty Pension Plan, benefits earned under the Staff Pension Plan will be calculated and indexed until such retirement or earlier termination of employment. The UBC SPP is among the most valued benefits offered by the University and it is designed to help you save for your future with the purpose of providing a stable lifetime retirement pension. An employee may contribute beyond the basic plan formula subject to income tax limits. Make a Gift. Have your personal information at your fingertips; commonly requested forms, useful highlighted links, and frequently asked questions regarding your benefit information, 24 hours a day, 7 days a week! FORM 5500 DATA. The Staff Pension Plan 2017 Annual Report is available online. The UBC Faculty Pension Plan’s 2019 Annual Report is now available online. UBC Staff Pension Plan The staff pension plan is jointly paid by employees and the University and provides benefits for retired employees. With the right approach from trustees, I think it can work. Be sure to review the Notice of Assessment you receive from the CRA after you file your income tax each year to see your RRSP room. Within this website, you will now have access 24 hours a day, 7 days a week to commonly requested forms, useful highlighted links, and frequently asked questions regarding your benefit information. The Plan is co-administered by … Contributions that you and the University make to the Plan are invested in one or more of the Plan’s investment options. Tel 604 822 8100. The UBC Faculty Pension Plan (FPP) is governed by the Plan’s Board of Trustees who is responsible for the management and oversight of the Plan including the administration and the investment of the Plan … In September, 2017, the UBC Board of Governors approved an increase in the employer contribution to the Staff Pension Plan. Frequently asked questions. If you have any questions about this election, please contact elections.information@ubc.ca or by phone at 604-827-0003. Careers. The Plan is invested in a variety of asset classes through external investment managers (PDF). The UBC Staff Pension Plan (SPP) funds are invested in variety of asset classes through external investment managers and in accordance with the Plan’s Statement of Policies and Procedures (SIPP). The following appointments are not eligible for the Staff Pension Plan: Each month, you and the University make contributions to the pension plan. Design of the Plan ’ s taxable is reduced each month by University... 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