Welcome to the Faculty Pension Plan (FPP)
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.
Latest News
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.
First Quarter 2012 Pension News
May 7, 2012
Members will receive their 2012 First quarter newsletter and statement packages starting the second week of May. In this issue of the Pension News:
- New FPP Investment Option: Guaranteed Investment Certificates
- Using GICs in your Investment Strategy
- Market Commentary
- Retirement Counselling Funding for Faculty Association Members
- 2012 Variable Payment Life Annuities (VPLA)
- FPP Pension Forum
- And more...
View the Pension News First Quarter 2012 newsletter.
2011 Annual Report
May 1, 2012
The Faculty Pension Plan's 2011 Annual Report is online. This year's report includes yearly membership and financial statistics, fund and investment managers' rates of return, a market commentary, and the 2011 financial statements.
View the FPP 2011 Annual Report
FPP 2012 Pension Forum
April 23, 2012
On Wednesday, May 23, the FPP will host its first 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 23, 2012
Time: 10:30 am to 12:30 pm
Location: Ponderosa Centre - Arbutus Room, 2071 West Mall (at University Blvd), Vancouver, BC [map]
If you wish to attend, please RSVP and contact the Pension Office by May 16 at (604) 822-8100 or via the Feedback page
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.
Investment Market Update - March 2012
March 6, 2012
As part of the 2012 Financial Planning Lecture Series, the UBC Faculty Pension Plan gave a presentation on February 29, which provided an update on the investment market and strategies. The presentation slides can be viewed here.
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.
Upcoming Events
Workshops
If you are a new member or wish to learn more about the Plan,
we host seminars to cover all aspects of the Plan and other
retiree benefits.
Bookmark this page to see what's new and when new workshops or other special events occur.
QuickFind
- Calculators
- Changing Your Investment Allocation
- Forms
- Government Pensions
- International Social Security Benefits
- Investment Choices
- Monthly Submission Deadlines
- Rates of Return
- Sunlife of Canada
- Supplementary Plan
- Transfer-In From Other Registered Plans
- Voluntary Contributions
- Workshops
GIC Current Rates
GIC Term |
Net Interest |
| 1-Year | 1.85 |
| 2-Year | 1.90 |
| 3-Year | 2.15 |
| 4-Year | 2.30 |
| 5-Year | 2.70 |
Monthly Unit Prices
as at April 30/12
Investment Fund |
Price |
Change (%) |
| Balanced | 159.3947 | -0.19 |
| Bond | 161.5960 | +0.11 |
| Canadian Equity | 175.8928 | +0.31 |
| Foreign Equity | 126.4904 | -2.06 |
| Short Term Investment | 119.3704 | +0.07 |
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