The Faculty Pension Plan (FPP) serves academic and administrative executives of the University. It became effective July 1, 1967 and provides retirement, termination and death benefits for members. Visit the FPP at a Glance for a overview of the Plan.
2012 Annual Report
May 15, 2013
The Faculty Pension Plan's annual report,
2012 Year in Review, is online. This year's report includes plan highlights, membership and financial statistics, fund and investment managers' rates of return, a market commentary, and the 2012 financial statements.
View the FPP 2012 Annual Report
2013 First Quarter Statements and Information
May 1, 2013
Members will start receiving their 2013 first quarter statements in the first week of May. Enclosed with the member statements is an information sheet with details on the FPP Pension Forum and Annual Report, and an announcement regarding the Pension News newsletter.
In an effort to reduce our carbon footprint on the environment, we will be putting the information from our Pension News newsletter on this website and will no longer produce a printed newsletter. By integrating this information into our website, we are hoping to pave the way for future member communications that are more timely, engaging, and audience-focused, such as subscription-based e-mail newsletters.
The following is information that has been updated for the first quarter of 2013:
FPP 2013 Pension Forum
April 23, 2013
On Wednesday, May 22, the FPP will host its Pension Forum – an informal event for members to actively learn more about the FPP, and meet and converse with the FPP trustees, management and staff. There will also be a short presentation from the FPP management and trustees. Please see the Pension Forum invitation for event details.
Date: Wednesday, May 22, 2013
Time: 11:00 a.m. to 1:00 p.m.
Location: Liu Institute for Global Issues, Multipurpose Room, 6476 NW Marine Drive [map]
If you wish to attend, please RSVP and contact the Pension Office by May 13 at 604.822.8100 or via the Feedback page
Fourth Quarter 2012 Pension News
February 7, 2013
Members will start receiving their 2012 fourth quarter newsletter and statement packages in the second week of February. In this issue of the Pension News:
Supplemental Arrangement Plan - 2012 Annual Report
February 7, 2013
The 2012 Supplemental Arrangement Annual Report as at December 31, 2012 has been posted on the Library page.
Investment Market Update Presentation - Faculty Association Financial Lecture Series
February 7, 2013
As part of the 2013 Financial Planning Lecture Series, the UBC Faculty Pension Plan gave a presentation on February 6, which provided an update on the investment market and strategies. View the Investment Market Update presentation slides.
Supplemental Arrangement Plan - Investment Management Changes
November 6, 2012
There has been a change in both the long term policy asset mix and the investment manager of the UBC Supplemental Arrangement Plan effective October 31, 2012. Plan members were mailed a letter dated October 24, 2012, which describes this change in detail.
FPP Guaranteed Investment Certificates
May 7, 2012
The Faculty Pension Plan has expanded its investment options to include Guaranteed Investment Certificates (GICs). FPP members may invest in any of the five investment funds and now in GICs as well. For information on the new investment option, please visit the Guaranteed Investment Certificates page.
Current GIC interest rates (net) are posted on the right side of the main FPP page, below the QuickFind menu.
Communications for Faculty Pension Plan RRIF/LIF-Type Plans
March 23, 2012
In our continuing efforts to ensure our members receive the highest level of customer service, a review was conducted on how members communicate changes for their RRIF-type or LIF-type plans. Effective April 1, 2012, all members are asked to contact the Faculty Pension Plan for any changes or requests regarding their RRIF/LIF-type plans.
Sun Life Financial remains the record keeper for the RRIF/LIF-type plans; however, as of April 1, Sun Life has been instructed to no longer accept member requests. Sun Life’s website and call centre will remain available to members wishing to enquire about their investment balances or payment schedules.
For more information, please read the letter mailed to members receiving RRIF/LIF-Type payments.
US Persons who are Members of the Faculty Pension Plan and/or Supplemental Arrangement
November 2, 2011
Globe and Mail – June 20, 2011 - A tax crackdown by the United States has sent more than one million Americans and green-card holders living in Canada scrambling to figure out how to comply.
The move is part of a push by the U.S. Internal Revenue Service (IRS) to make sure U.S. taxpayers are paying what they owe on foreign accounts. Unlike most countries, the U.S. requires its citizens to file annual tax returns based on their worldwide income, regardless of where they live.
UBC advises all its current or former employees who may be required to file US tax returns to seek advice from a US tax consultant with regard to whether there are tax consequences or filing responsibilities with respect to the ‘assets in’ or ‘income from’ their Faculty Pension Plan and Supplemental Arrangement accounts. Failure to meet any such reporting or filing requirements could result in very significant penalties.
FPP Election Update
October 12, 2011
We are pleased to advise that Dr. Rob Heinkel has been re-elected by acclamation. The Board welcomes Mr. Vijya Kumar Verma, who was also elected by acclamation, to the Board of Trustees. Both trustees will serve for a four-year term from January 1, 2012 to December 31, 2015.
It is with much regret that we announce that Dr. Neil Guppy decided not to stand for re-election due to his upcoming commitments. We would like to thank Dr. Guppy for his valuable contributions to the Faculty Pension Plan since 2006, and wish him well in his future endeavours.
Member Request Deadlines
Change Effective November 2011
September 21, 2011
To improve administration, all member requests affecting account balances must be received by the Pension Administration Office by 4pm PT on the 4th last business day of each month. View the Monthly Submission Deadline Dates.
View Account Requests at myPension
Members can view their investment allocation changes, transfers-in, and withdrawals through myPension. Requests are updated on myPension on (or shortly after) the 15th business day of the following month. myPension is accessible via the CWL Login button on the FPP website.
Expected Future Lifetime at Age 65
There is a correction to the expected future lifetime figures reported in the “Paving the Path: A look at Retirement Planning” article in the Q2/10 Pension News. The expected future lifetime for a 65 year old female is 22.2 years and for a 65 year old male it is 19.9 years. We apologize for any confusion this may have caused.
UBC Faculty Pension Plan positioned well compared to other University Plans
The Canadian Association of University Business Officers (CAUBO) has released the results of their 2008 Investment Survey for University Plans over $500 million as at December 31, 2008. The UBC Faculty Pension Plan’s 2008 Rate of Return ranked 2nd out of the 23 university pension plans surveyed. For the Plan’s current investment performance, please click here.
The information in this website summarizes the main features of the Faculty Pension Plan. This website does not create or confer any rights to benefits. Pension plans and the legislation that governs them are complex, so not every detail can be contained in a website such as this. In the event of any discrepancy or misunderstanding, benefits will be administered according to the official Plan documents and the applicable legislation.
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