Pension and benefits

Employees with appointments of at least one year are eligible for the health and life insurance plans. Employees with appointments of two years or more are also eligible for the pension and dental plans. (Find more eligibility details in Policy 23.)

What you need to know

• What the Pension and Benefits Committee does. The P&B Committee is responsible for the design and modification of both the pension and benefits programs. 
  
  A Pension and Benefits Committee liaison sits on the FAUW Board of Directors to keep FAUW updated. They also submit a report at each FAUW general meeting.
  
  Pension & Benefits Committee meetings are open to staff and faculty members and much information about their work is public. Meeting dates, committee membership, and a range of reports and other documents are available on the Pension & Benefits Committee page on the Secretariat website.

• What EFAP is. The Employee and Family Assistance Program (EFAP) is a relatively new program that provides, among other things, confidential telephone, in-person, and online counselling services to faculty and their families. These services are outside of your regular benefits coverage.
• What Groupnet is. Our benefits are processed by The Great-West Life Assurance Company. Groupnet is their online portal and mobile app for members. It's where you submit claims and check your coverage.
• What's covered. The Groupnet website and Employee Benefits Program booklet (PDF) are the best sources of that information.
• What kind of pension plan we have. The University of Waterloo pension plan is a defined benefit plan, which means the amount of your pension is not impacted by the pension fund’s market performance.

Where to find information

• The Groupnet website or app for benefits coverage details. 
• Human Resources' Employee Benefits Program booklet (PDF)
• The Pension and Benefits Committee section of the Secretariat website.
• The Employee & Family Assistance Program (EFAP).

Policies about your pension and benefits

• Policy 23 – Eligibility for Pension and Insured Benefits
• Policy 4 – Benefits to Faculty and Staff Undertaking Part-time Educational Programs
• Policy 24 – Tuition Benefit for Children of Faculty and Staff

Who to talk to

• Your department or school’s Human Resources partner.
• The Human Resources Pension Team.
• Your faculty representatives on the Pension and Benefits Committee.
• Great West-Life

FAUW's advice

Use the benefits. Become aware of what is actually covered, and claim the benefits to which you are entitled.