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UPP marks national Pension Awareness Week with emphasis on the value of strong pension coverage
Each year, National Pension Awareness Week (February 17–24) and Pension Awareness Day (February 19) shine a spotlight on an issue that affects every working Canadian: retirement readiness. University Pension Plan is proud to support both initiatives, which reflect our commitment to advancing research, policy dialogue and practical solutions for expanding access to secure, predictable retirement income.
Research from the National Institute on Ageing’s (NIA) Ageing in Canada Survey underscores the close link between confidence in retirement and access to strong workplace pensions.
Among Canadians aged 50+, only 29% say they feel they can afford to retire at their desired time, down from 35% in 2022. At the same time, 43% say they can’t afford to retire, and 22% report having saved $5,000 or less for retirement. Further, Statistics Canada data shows that just 37.7% of Canadians are covered by a registered pension plan.
The data points to a clear conclusion: access matters.
“UPP is a founding member of the NIA’s Pension Centre of Excellence, and proud to contribute to sector-wide efforts that build awareness of the importance of secure workplace pension coverage. But awareness alone is not enough. Expanding access to high-quality workplace pensions is how we help close the gap.”
Barbara Zvan
UPP’s President and Chief Executive Officer
The Value of a Strong UPP
On January 1, 2026, Wilfrid Laurier University officially joined UPP as our sixth university, alongside the Wilfrid Laurier University Faculty Association (WLUFA), the Wilfrid Laurier University Staff Association (WLUSA), and the Wilfrid Laurier University Student Union (WLUSU). Laurier brings more than 3,000+ new members and $1.1 billion in assets to the portfolio.
Each new group that joins UPP is the end result of in-depth, ongoing conversations and work that can be years in the making. We remain fundamentally committed to these efforts because UPP’s growth directly addresses the pension coverage gap identified in the NIA research.
Membership in UPP provides:
- the ability for members to depend on monthly retirement income for life, pensions designed to adjust to inflation, and plan portability across a growing number of member employers.
- A turnkey DB pension solution for university sector employers joining UPP. This offers a key lever of talent attraction and retention, with high pension value relative to plan costs through centralized, in-house plan administration, investment management and member services.
Supporting members when it matters most
The NIA survey results show that only 18% of working Canadians aged 50+ report having a formal retirement plan. Further, respondents with workplace pensions were more likely to indicate having concrete plans for retirement, and to feel they can afford to retire, than those without.
At UPP, we understand that supporting retirement confidence means more than delivering a pension promise. It includes providing responsive service, clear communications, and practical planning tools that help members understand the value of their pension throughout their careers. From in-house member support to enhanced digital planning tools and simplified annual statements, UPP continues to invest in initiatives that make pensions easier to understand and navigate.
“Our aim is simple: a reliable, responsive service experience that reflects what matters most to our members. We provide services and information that support our members from the day they join UPP through their retirement.”
Joanna Lohrenz
Chief Pension Services Officer, University Pension Plan
Building momentum for broader pension coverage
Expanding pension coverage requires collaboration among employers, policymakers, and pension plans.
Recent policy developments in Ontario, including new measures to support the conversion of defined contribution (DC) plans into jointly sponsored pension plans (JSPPs) such as UPP, reflect growing recognition of the role strong plan design plays in long-term retirement outcomes. UPP has played a leading role in advancing these reforms, working closely with government and sector partners to help modernize the regulatory framework guiding pensions and enable sustainable expansion of defined benefit coverage.
Through participation in Pension Awareness Week and Day, UPP is helping translate awareness to action, strengthening retirement security one university community at a time.
Learn more about joining UPP.
Media Contact
Kelly Conlon
Managing Director, Strategic Communications and External Relations
[email protected]
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