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Toronto, ON – University Pension Plan Ontario (UPP) today released its 2023 Annual Report outlining performance and development from its second full operational year. UPP ended the year with a 10.2% annual rate of return, growing net assets to $11.7 billion. The Plan maintained a healthy funding position, staying well-equipped to pay members’ pensions today and over the long term.
1 On a smoothed asset basis
2 Pre-conversion inflation protection is based on the prior plan’s indexing formula, which varies by each plan joining UPP.
Additional information about UPP’s 2023 results, including financial statements, is available in the 2023 annual report and on our website.
About University Pension Plan Ontario (UPP)
University Pension Plan Ontario (UPP) is a jointly sponsored defined benefit pension for Ontario’s university sector. UPP manages CAD$11.7 billion in pension assets and proudly serves over 40,000 members across four universities and 14 sector organizations. UPP is growing a resilient fund to secure pension benefits for members today and for generations to come and is open to all employers and employees within Ontario’s university community. For more information, please visit myupp.ca.
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Kelly Conlon
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