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Your pension plan at a glance

About the plan

A general overview of the University of Waterloo pension plan for faculty and staff.

Joining the plan

Summary of eligibility requirements and important considerations when first joining the pension plan.


An introduction to our online self-service pension estimator.

Life events with pension implications 

Pension benefits in the case of death or disability

In the unfortunate event of your passing or not being able to work, your pension accrual is not lost.


If you are leaving the University of Waterloo, there are important decisions that you must make in regards to the pension entitlement you have accumulated.

Marriage breakdown

Pension is considered family property and members may request that a portion of their accrual be paid to their former spouse directly from the pension plan.

Pre-retirement programs

Vacation exchange program

Also known as the 2% exchange or 2% in lieu, this program allows eligible members to exchange a total of 15 days of vacation for a one-time 2% salary increase.

Reduced workload to retirement

Eligible faculty and staff members can reduce their workload in the years prior to retirement without negatively impacting your pension.


Your UWaterloo pension

A description of the retirement process, how your pension is determined and the pension options available.

Government benefits and Registered Retirement Savings Plan (RRSPs)

A brief introduction to government benefits (Canada Pension Plan, old age security) and personal RRSPs.

Flexible pension contributions or "flex"

Effective January 1, 2014 flex contributions are no longer allowed. Existing flex contributions will remain on file until the member retires, terminates or dies, at which time they will be paid in accordance with the plan. The following outlines the provisions of the historical flexible plan provisions.

Payroll pension plan

The University provides an additional amount of pension in excess of the Income Tax Act limit from a non-registered pension plan, referred to as the payroll pension plan.