The Faculty Pension Plan (FPP) serves faculty 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.
April 1 to May 31, 2015 Statements of Account
July 2, 2015
Members will receive their final Statement of Account from the Pension Administration Office in early July 2015. Active and Deferred members are encouraged to read the transition brochure they received in late May/early June 2015 for important information regarding the transfer of their account to Sun Life Financial.
Statements of Account for the period of January 1 to June 30, 2015 will be mailed to members by Sun Life Financial in mid July 2015. This statement will also be posted online at mysunlife.ca/ubcfpp in mid July 2015.
New Executive Director, Pensions
June 18, 2015
We are pleased to announce that Orla Cousineau is the new Executive Director, Pensions for the UBC Faculty and Staff Pension Plans. Orla is a highly regarded pension professional with over 25 years of experience in the pension industry. Prior to UBC, Orla had a longstanding and distinguished career with Mercer and was a client relationship manager for a number of Mercer’s largest clients. Her strong pension experience includes leading and providing strategic advice and guidance to several large pension plans, multi-national corporations, boards and pension committees. Having managed Mercer’s Retirement Business and Pension Administration Units in Vancouver, Orla also brings strong operational management experience to the UBC Pension Administration Office.
With the hiring of Orla Cousineau as Executive Director, Pensions and Debbie Wilson as Associate Director, Pensions, the succession plan process for the UBC Pension Administration Office has been completed. Cheryl Neighbour, Executive Director, Operations for the Faculty Pension Plan and Jay Parker, Executive Director for the Staff Pension Plan, will continue working until later in 2015 to assist in the transition.
Faculty Pension Plan Forum Presentation Slides
May 21, 2015
The Faculty Pension Plan held its Pension Forum on May 20, 2015. We thank everyone who attended the Pension Forum, and hope you enjoyed the event and had your questions answered. A presentation was made by the Chair of the Board of Trustees and the Plan's management on the Plan's 2014 investment performance as well as a review of the initiatives for 2014/15. As well, there was a presentation of the new mysunlife.ca/ubcfpp member website from Sun Life Financial.
UBC Faculty Pension Plan Annual Report:
2014 Year in Review
May 12, 2015
The UBC Faculty Pension Plan's annual report, 2014 Year in Review, is online. The report includes plan highlights, membership and financial statistics, fund and investment managers' rates of return, a market commentary, and the 2014 financial statements.
View the FPP 2014 Annual Report
Frequently Asked Questions regarding the relationship with Sun Life Financial
May 6, 2015
The Board of Trustees of the UBC Faculty Pension Plan has recently selected Sun Life Financial to work with the UBC Pension Administration Office to co-administer the Plan. For answers to some of the most common questions about the transition and what it means to members and the Plan, please see The UBC Faculty Pension Plan introduces Sun Life Financial: Frequently Asked Questions brochure.
2015 First Quarter Statements and Information
May 4, 2015
Members will start to receive their 2015 first quarter statements in early May. Enclosed with the member statements is an information sheet highlighting details about the upcoming 2015 Pension Forum, including a map and a list of information booths that will be available. As well, there is a notice about the FPP Annual Report: 2014 Year In Review and the new FPP custom sign-in page, mysunlife.ca/ubcfpp.
The following is information that has been updated for the first quarter of 2015:
Supplemental Arrangement Plan - 2014 Annual Report
February 19, 2015
The 2014 Supplemental Arrangement Annual Report as at December 31, 2014 has been posted on the Library page.
New Associate Director, Pensions
February 10, 2015
We are pleased to announce that Debbie Wilson has joined the UBC Pension Administration Office as Associate Director, Pensions. Ms. Wilson is well known in the Canadian pension and benefits industry and brings a wealth of knowledge and expertise to the both the UBC Faculty and Staff Pension Plans. Most recently, Ms. Wilson was the Director of Pensions and Benefits for Simon Fraser University and a Director on the UBC Staff Pension Plan Board. Her past work experience also includes 22 years as a consulting actuary at Mercer.
myPension Campus Wide Login (CWL) Screen – New Look
February 8, 2015
myPension recently underwent maintenance in order to convert the myPension Campus Wide Login (CWL) screen to UBC IT’s Central Authentication Service (CAS). As a result of this conversion, the look and web design of the CWL login screen to access myPension has slightly changed. Your CWL Login name and password remains the same and is not impacted by this update. For more information on the updated CWL Login page, you may wish to visit this UBC IT Services’ webpage.
Termination of the Hedge Fund
December 31, 2014
The FPP Board of Trustees terminated the current investment in the hedge fund with BlackRock Inc. as of December 31, 2014. This fund was not meeting the performance expectations established for the fund. The existing Policy Mix for this hedge fund was a 3% allocation in the Balanced Fund and a 6% weighting in the Foreign Equity Fund.
It was also agreed by the FPP Board to move this hedge fund weighting allocation in both Funds to be evenly split amongst the two current Global Equity managers (i.e. MFS Investment Management and J.P. Morgan). This will increase the Policy Mix weighting in the Balanced Fund from 10.5% each to 12% each (i.e. 24% total) for these two managers. In the Foreign Equity Fund the increase will be from 36.5% to 39.5% (i.e. 79% total) each for these two managers.
For additional information regarding this investment change, please visit the Fund Updates page.
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.