UPP welcomes Trent University as New Participating Member Institution
Trent University Faculty Association (TUFA) converts pension to UPP on January 1, 2022
Toronto, January 7, 2022 – This week, University Pension Plan (UPP) welcomed Trent University as its fourth member institution, with the participation of TUFA pension plan members. Also joining Ontario’s newest jointly sponsored, defined benefit pension plan on January 1, 2022, are staff of the University of Guelph and University of Toronto faculty associations and eligible UPP employees.
“We are thrilled to welcome UPP’s newest members, thanks to the hard work of our Joint Sponsors and new university partners,” said Barbara Zvan, President and CEO of UPP. “This marks another exciting step forward in our mission to fulfill the historic vision of UPP’s creators – to bring enhanced retirement security to current and future members, provide excellence in member service, invest responsibly, and give members a stronger voice in their plan.”
The new members join UPP at a formative stage, as the Plan builds its long-term foundations, develops its member service infrastructure, and further defines its investment roadmap. This strategic work includes dedicated engagement with members on their needs, values and expectations. Winter 2022 will mark a new round of member engagement, with a survey and discussion series focused on Responsible Investing.
Launched on July 1, 2021, by its founding universities – Queen’s University, University of Guelph and University of Toronto – UPP encompasses more than 35,000 members and over $11 billion in assets under management. As a jointly sponsored pension plan, decisions on new entrants and the timing of entry are made by UPP’s Joint Sponsors. UPP’s focus is on creating a platform that will excite others to join and make the transition as seamless as possible.
“As we welcome new entrants to the Plan, UPP’s commitment to our mission remains steadfast,” said Gale Rubenstein, Chair of UPP’s Board of Trustees, “We look forward to working with our Joint Sponsors to strengthen defined benefit pensions in the university sector across Ontario.”
Managing Director, Strategic Communications and External Relations