Frequently asked questions

The University is exploring the possibility of joining University Pension Plan (UPP). This would involve converting the current Registered Pension Plan (RPP) into UPP, a multi-employer, jointly sponsored pension plan. 

At this point, we are in the exploratory phase, and no decisions have been made. Eligible members of the pension plan will have the opportunity to vote on whether to proceed with the transition. 

UPP offers an established platform designed specifically for the university sector. As a larger, multi-employer plan, UPP brings the advantages of scale, including the ability to spread risk across a broader membership and diversify investments more widely. 

It has the infrastructure, expertise, and technology to manage pensions effectively over the long term. This includes expertise in investments, actuarial, risk management, regulatory matters, governance, member services, and pension administration. 

Has a decision already been made to join UPP? 

No. This is still an exploratory process. Active employees who are members of the RPP and inactive members (i.e. pensioners, surviving spouses, deferred members) will have the opportunity to vote on whether to proceed with the transition. 

Who will decide whether Waterloo joins UPP? 

After the exploration phase, employee unions will be invited to consent on behalf of their members. At the same time, non-unionized employees will be asked to cast their individual votes.  

This is a collective decision and not something individuals opt into or out of on their own. 2/3 of eligible current plan members would need to consent to joining for the transition to occur. 
 

Visit myUPP.ca to learn how the plan works, its governance structure, and investment strategy.