News & Events

Staff Pension Plan Fair – Wednesday, June 8, 2016

The Staff Pension Plan (SPP) Pension Fair takes place on Wednesday, June 8 from 11:30 a.m. to 1:15 p.m. The fair will be held in the Robert H. Lee Alumni Centre [map]. No RSVP is required. This is a great opportunity for members to learn more about their pension plan and Plan benefits. We are […]

New Pension Board Appointments

We are pleased to announce that Barry Gros has been appointed by the UBC Board of Governors to serve as Independent Chair on the Staff Pension Plan (SPP) Board for a two-year term effective February 15, 2016 to December 31, 2017. Mr. Gros was previously a University Appointed member of the SPP Board. Mr. Gros […]

Pensioners – COLA (Cost of Living Adjustment)

UBC Staff Pension Plan retirees will receive a 0.6% Cost of Living Adjustment (COLA) to their pension effective January 1, 2016. This adjustment is based on 50% of the increase in the Consumer Price Index in the last year. Details regarding how indexing is determined may be read in the November 2014 Staff Pension Plan […]

New Plan Custodian – Northern Trust

Effective August 1, 2015, Northern Trust has assumed responsibility of making pension payments to pensioners of the Staff Pension Plan. Pension payments are payable on the first of each month. Northern Trust transferred the pension amounts to each financial institution on July 31, 2015. However, when the first of the month is on a weekend […]

New Executive Director, Pensions

We are pleased to announce that Orla Cousineau is the new Executive Director, Pensions for the UBC Staff and Faculty 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 […]

Plan Change Regarding Retroactive Enrolment

Effective January 1, 2015, retroactive enrolment is no longer an option in the Staff Pension Plan (SPP). This change has no impact on current members. The change does impact employees who are eligible to join the SPP and have elected to defer their enrolment. For these employees, effective January 1, 2015 retroactive enrolment is no […]

Actuarial Valuation Results and January 1, 2012 Plan Changes

This page provides additional information on the Actuarial Valuation Results as at December 31, 2010 and January 1, 2012 Plan changes as reported in the November 2011 and February 2012 issues of the UBC Staff Pension Plan Update. Below is a breakdown of questions by topic. Actuarial Valuations Results The UBC Staff Pension Plan undergoes […]

Amendment of the Commuted Value (Lump Sum) option for members age 55 and older effective January 1, 2011

The UBC Board of Governors has approved the Pension Board’s recommendation to remove the Commuted Value (lump sum) option for members age 55 and older. This change is effective for members who retire on or after January 1, 2011. Given today’s low interest rate environment, providing the commuted value lump sum option has been a […]