Kathy Pang
The SPP and working past age 65
If you decide to continue working at age 65 and beyond, you need to decide if you would like to: Continue to make contributions and accrue pensionable service; or Stop making contributions and start your pension immediately or on the first of the month in a later month. For either option, you must start your […]
Other sources of retirement income: Old Age Security and the Canada Pension Plan
The Old Age Security (OAS) and the Canada Pension Plan (CPP) are the two federal public pensions in Canada. In addition to your UBC SPP pension and your personal savings, these government-administered pension programs are important sources of retirement income. OAS is a universal program that provides income to Canadians when they reach age 65. […]
Getting the most out of 2023: RRSP contributions & Pension Adjustments
Registered Retirement Savings Plans (RRSPs) are another way to save for retirement. When you contribute to an RRSP, it can help reduce the taxes on your income during your working years. While your money is in an RRSP it is usually tax exempt as long as the funds remain in the plan. In retirement, any […]
Pension Board Updates
At the end of 2023, Barry Gros completed his appointed term as Independent Chair for the UBC SPP Board. Barry was first appointed to the SPP Board in 2015 as a board member, and then in 2016 as Independent Chair. The SPP Board and management would like to extend their warmest thanks and appreciation to […]
2023 Annual Statements for Pensioners – Available online through myPension
The 2023 annual statements for pensioners of the UBC Staff Pension Plan are available online through myPension. If you opted to receive a paper statement as well, it will be mailed in mid-December. Sign in to myPension If you have any questions about your annual statement, please contact the SPP Member Services team. myPension Support […]
2024 Cost-of-Living Adjustment
UBC Staff Pension Plan pensioners will receive a 3.08% cost-of-living adjustment (COLA) to their pension effective January 1, 2024. This adjustment is based on 70% of the change in the Consumer Price Index. Details regarding how indexing is determined may be read in the 2023 SPP Pensioner Newsletter and on the COLA page. Pensioners who […]
Staff Pension Plan Update Newsletter – October 2023
The October 2023 issue of the UBC Staff Pension Plan Update newsletter is now available online. Actuarial Valuation Results SPP Lunch & Learn: Actuarial Results 101 What is the SPP Basic Pension Benefit? 2024 Workshop Dates: Understanding your Staff Pension Plan New Pension Airwaves Podcast Episodes SPP Update Presentation: Recording & Slides New to myPension: Address […]
Actuarial Valuation Results
The UBC Staff Pension Plan continues to be well-funded and sustainable. Every three years, the UBC Staff Pension Plan (the “SPP” or “the Plan”) is required by pension regulation to undergo a financial check-up called an actuarial valuation, which is conducted by the Plan’s actuary. The actuarial valuation is one of the ways that the […]
SPP Lunch & Learn: Actuarial Valuation Results 101
UBC Staff Pension Plan (SPP) members are invited to attend a short “Lunch & Learn” to learn more about the actuarial valuation results. Bring your lunch and join us online for a 40-minute information session on Thursday, November 30, 2023 at 12 pm. The information session will be presented by Derrick Johnstone, Executive Director, Pensions, […]
What is the SPP Basic Pension Benefit?
We often refer to the concept of a member’s “basic pension benefit” from the UBC Staff Pension Plan (SPP). But, what does that actually mean? When you join the SPP, you are immediately vested in the Plan, which means you are entitled to a pension benefit when you leave the Plan. The amount you will […]