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Join the pension plan custom-built to provide best-in-class retirement benefits for Ontario’s university sector.
Why UPP
A win-win for employers and employees.
Employer benefits
Balance sheet relief
No PBGF or solvency funding obligations, simplified accounting
Defined funding policy
Clearly laid out guidance for plan funding
Talent recruitment and retention
Employers of any size can offer a premier, portable benefit designed for the university sector
A turnkey solution
Centralized pension administration and investments, under a strong risk-shared governance model
Shared benefits
Best-in-class value
Top value for contributions among peer defined benefit pension plans
Enhanced cost and risk efficiency
UPP is designed to deliver enhanced security and value with scale
Joint decision-making
Equal employee-employer say in plan governance and design (benefit levels and contribution rates)
Expert investment management
Contributions invested by experienced professionals with expertise in pension sustainability and responsible investing
100% matched contributions
Employee benefits
Secure, predictable retirement income for life
Predictable, secure retirement income for life based on an average of best 48 months of earnings and years of service
Additional tailored features
Funded conditional indexation, early unreduced retirement, flexible survivor benefits
Service excellence (in development)
Proactive, personalized service to members through state-of-the-art systems, tools and techniques
Career flexibility
Eligible plan members can seamlessly move between UPP participating employers, and combine part-time service at multiple UPP participating employers*
*For eligible employment classes
How Upp works
UPP is a jointly sponsored pension plan (JSPP).
A JSPP is a special type of defined benefit plan in which members and employers share equal responsibility for decisions about plan funding and design.
UPP’s joint sponsorship is customized for the variety of voices and groups within the university sector.
Equal say in plan design, funding, administration
Transparent plan operations, funding, decision-making
Clear, explicit risk sharing
It’s these characteristics that afford JSPPs unique benefits like solvency exemption and stable, predictable contributions.
The path to joining
UPP is open to all universities and organizations in Ontario’s university sector.
We can accommodate a wide array of past and present plan types – even those without a prior plan. We’re here to provide comprehensive transition and onboarding support, from start to finish, and look forward to starting the conversation.
How to Get Started
Interested in learning more about UPP? We're here for you every step of the way.
UPP’s team is available to discuss plan features, answer questions, provide calculations and estimates, and deliver presentations about what joining UPP would look like for your organization. Please contact Andrew Naples, Managing Director, University Sector and Stakeholder Engagement, to get started.
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