New myPension Features
We’ve made improvements to myPension – your online pension tool. With myPension you can access your personal pension information, review your beneficiaries, view your service accruals (if applicable), and calculate pension estimates to better understand pension income for retirement planning. What’s New? Pension Adjustment – view a detailed calculation of your annual pension adjustment. Electronic Annual […]
Fall Election
Interested in becoming a board member? An election will be held this fall for two positions on the Board. The Board meets five to seven times each year, generally for a half day each meeting and you’ll have a few hours of preparation for each meeting. No prior pension knowledge or Board experience is required. […]
Pension Board Updates
The UBC Board of Governors has reappointed Barry Gros to his second term as the Independent Chair of the SPP Board. They have also appointed Joanna Carson to the SPP Board. Their terms are from January 1, 2018 to December 31, 2021. We would like to thank Barry for continuing his service on the SPP […]
New Pension Board Member
Introducing Joanna Carson Joanna is the newest member to join the SPP Board. We asked Joanna about her past experience and what she looks forward to in her new role on the Pension Board. QUESTION: What experience do you bring to the SPP Board? JOANNA: I’m a professional accountant and a finance director with two […]
Annual Governance Update
The 2017 annual governance report was presented to the UBC Board of Governors in April 2018. The Board of Governors was advised that the SPP was compliant with the B.C. Pension Benefits Standards Act and Regulations, and with internal governance policies. This report as well as past reports are available in the Plan Governance section.
2018 Cost of Living Adjustment
On January 1, 2018, SPP retirees received an increase to their pension of 0.75%.
Pension Office Holiday Closure
The UBC Pension Administration Office will be closed from December 25, 2017 to January 1, 2018 inclusive. The office will reopen on January 2, 2018. If you have an urgent pension inquiry during the holiday closure, please leave a message at 604.822.8647. These messages will be monitored daily over the holiday period. Lump sum payments […]
Actuarial Valuation Results
In the May 2017 SPP Update newsletter, we advised that the actuarial valuation was underway for the UBC Staff Pension Plan (SPP) with four main purposes: Evaluate the present financial status of the SPP; Assess the ability of the SPP to pay pension benefits over the long term; Comply with regulatory requirements for actuarial valuations […]
Increase in employer contribution to the Staff Pension Plan
In September 2017, the UBC Board of Governors approved an increase in the employer contribution to the SPP. The increase will be implemented in two stages – the first increase occurred on October 1, 2017 and the second increase will occur on October 1, 2018. The past, current and new contribution rates are shown below. […]
Five key features of the SPP
We often hear from members that they are not sure where to start when it comes to learning more about their pension benefits. Pension plans can be complex and challenging to understand. Our website, newsletters, brochures, and workshops are excellent resources to help you learn more about your pension benefits and how the pension plan […]