The UPP Joint Sponsors are pleased to announce that Trent University and the Joint Sponsors have reached agreement, in principle, that the Contributory Pension Plan for TUFA Employees of Trent University will be converted to the University Pension Plan (UPP) effective January 1, 2022. The conversion is conditional upon member consent, regulatory approvals, and formal agreements with the Board of Trustees and the Joint Sponsors.
This represents an important milestone for Trent University and the UPP. Among the original “six” universities and employee groups involved in the early discussions about the creation of the UPP, Trent University and the Trent University Faculty Association have maintained a very keen interest in the development of the UPP and, together, reached a formal consent Memorandum of Agreement in 2019 providing for TUFA’s consent to conversion. Trent and TUFA will be working closely with the UPP Joint Sponsors, the Board of Trustees, and FSRA, over the next year to complete all of the regulatory and other work that is required to meet the timelines for conversion.