We know that your pension is more than just a benefit — it’s your future security and peace of mind.
As the University of Waterloo explores the possibility of converting Waterloo’s Registered Pension Plan (RPP) to the multi-employer, jointly sponsored University Pension Plan (UPP), this website has been created to share information, invite open dialogue, and engage plan members to support informed decision-making.
The current exploration allows you to review information about what joining UPP would mean for you, and what the process would involve. It also enables you to compare the two plans, request additional information and ask questions.
It is important to note:
- The exploration and potential conversion to UPP is a multi-year process that will include consultation with plan members, as well as legal and administrative processes.
- No decisions have been made. A conversion to UPP requires a voting process by active members (i.e., employees), inactive members (e.g., deferred members, retired members, survivors and other members).
- This website is intended to provide a general overview of current Waterloo RPP and UPP plan features to support informed discussions as the exploration process continues. Additional information and updates will be shared throughout the process to support informed decision-making.
- In addition to the resources available on this site, employee groups and associations may also communicate directly with their members and organize member-specific information and feedback sessions and resources.
Why is the University considering a conversion to UPP?
The University of Waterloo is exploring a different defined pension plan to manage the growing scale, complexity, and risk of the current Waterloo RPP.
As part of responsible governance, reviewing the plan and alternative options is important due diligence when the plan is in a strong financial position as it is today (surplus position as of January 1, 2026). This allows the University and plan members to assess whether alternative approaches could better meet the needs of members.
The broader pension environment has changed, and there are benefits to converting the current Waterloo RPP to a jointly sponsored pension plan managed by an organization established for that purpose.
UPP is being considered because it is a pension plan created specifically for Ontario’s university sector. As a larger, multi-employer plan, UPP offers advantages that come with scale, including the ability to spread risk across a broader membership and to invest across a wider range of asset classes and investment opportunities.
UPP also has dedicated infrastructure, expertise, and technology to manage pensions over the long term, including capabilities in investments and risk management, actuarial analysis and funding, regulatory compliance and governance, pension administration and member services and communications.
Converting the Waterloo RPP to the UPP would also provide operational and governance efficiencies to the University, enabling the University to focus its resources and governance activities on its core functions.
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