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.
Proposed Canada Pension Plan Changes
July 6, 2016
In June 2016, the federal government announced the federal, provincial and territorial governments have reached an agreement in principle to enhance and strengthen the Canada Pension Plan. These changes would take effect starting in January 2019. The UBC Faculty Pension Plan Board will review these changes and updates will be posted on the Plan’s website and in the Plan newsletter. For information regarding the proposed changes, please see the Department of Finance bulletin at http://www.fin.gc.ca/n16/16-081-eng.asp.
Unsolicited Financial Advice
June 17, 2016
The UBC Pension Administration Office has learned that some faculty members have received unsolicited communication from individuals claiming to offer financial advice and seminars on behalf of the UBC Faculty Pension Plan. These individuals, in fact, are not affiliated with the Plan or any of the Plan trustees, management and staff, and their services are not endorsed. Although the Board of Trustees encourages members to seek independent financial advice when making investment allocation and retirement decisions, members are reminded that the trustees of the Plan, the University, and the UBC Pension Administration Office, or its respective employees, do not endorse any particular advisors. Plan seminars are provided by the UBC Pension Administration Office.
Termination of Canadian Equity Manager, PCJ Investment Counsel
May 31, 2016
The FPP Board recently approved the termination of one of the four Canadian equity managers, PCJ Investment Counsel. This change affects the Balanced Fund and Canadian Equity Fund options. Effective mid-June 2016, the assets being managed by PCJ Investment Counsel will be equally distributed to the remaining three Canadian equity managers (i.e. Connor, Clark & Lunn, Guardian Capital and Leith Wheeler). This change does not affect the amount allocated to Canadian equities in either of the two fund options. The investment management fees are expected to decrease only marginally with this change.
2016 First Quarter Information
May 4, 2016
Active Members were recently emailed the April 2016 edition of our new electronic newsletter, UBC Faculty Pension Plan Update. Deferred and Retired members were mailed a paper copy, which will be the final paper communication mailed to members. Going forward, our newsletter will be sent electronically only.
Our April 2016 newsletter features the following information and updates:
FPP Financial Statements
April 18, 2016
The Faculty Pension Plan’s audited Financial Statements as at December 31, 2015 are now available online. Please visit the Library page to view.
UBC Faculty Pension Plan Forum: May 25
April 4, 2016
On Wednesday, May 25, the UBC Faculty Pension Plan will host its Pension Forum – a great opportunity for members to hear the latest news about their pension plan and to meet the Plan's trustees, management and staff. There will be a presentation on the Plan’s 2015 investment performance and a review of the 2015/16 initiatives.
Date: Wednesday, May 25, 2016
Time: 10:30 a.m. to 1:00 p.m. (Doors open at 10:15 a.m.)
Location: Commons Block, Marine Drive Residence, 2205 Lower Mall, Vancouver Campus [map]
Click here to register for the Pension Forum
UBC Faculty Pension Plan Annual Report:
2015 Year in Review
April 4, 2016
The UBC Faculty Pension Plan's annual report, 2015 Year in Review, is online. The report includes plan highlights, membership and financial statistics, fund and investment managers' rates of return, and a market commentary. The Plan’s audited Financial statements will be available on the Library page in mid/late April 2016.
UBC Supplemental Arrangement 2015 Annual Report
February 26, 2016
The 2015 Annual Report for the UBC Supplemental Arrangement is now available in the Library.
2016 Financial Planning Lecture Series
January 12, 2016
The UBC Faculty Association has partnered with UBC Continuing Studies to provide a five-part lecture series on financial planning. All members of the Faculty Association are invited to attend these informative sessions. The UBC Faculty Pension Plan will present on Tuesday, February 9 from 12:40 P.M. to 1:25 P.M. at Lecture Hall 1, Woodward IRC (2194 Health Sciences Mall). No advance registration is required.
View the 2016 Financial Lecture Series flyer for presentation details.
UBC FPP Short Term Investment Fund Investment Management Change
December 17, 2015
As of December 9, 2015 the investment management of the UBC Faculty Pension Plan (UBC FPP)’s Short Term Investment Fund (STIF) has been changed from British Columbia Investment Management Corp (bcIMC) to Sun Life Global Investments (Canada) Inc. This change was made primarily for operational reasons and will allow for more efficient handling of the transactions in this fund option. The investment management fees charged to the STIF were very slightly reduced (by 0.01%) with this change. The assets in the UBC FPP STIF will continue to be invested in accordance with the Plan’s Statement of Investment Policies and Goals with oversight by the UBC FPP Board of Trustees.
UBC Faculty Pension Plan Election - Results
November 23, 2015
We are pleased to announce that the official results of the Faculty Pension Plan (FPP) Election have now been released. We would like to congratulate Dr. Robert Heinkel and Mr. Vijay Verma, who have both been re-elected as members of the FPP Board of Trustees. Their terms of office are from January 1, 2016 to December 31, 2019. Thank you to all the candidates and members who participated in this election.
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.
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.
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.