Reminder: UBC Staff Pension Plan Enrollment Changes
Many AAPS members received their online statements this week, and the Staff Pension Plan might be top of mind.
Take the UBC Staff Pension Plan Workshop
If you have not taken the UBC Staff Pension workshop, we highly recommend that you do. The Pension Administration Office is offering online sessions. You can sign up here.
Changes to Pension Plan Enrollment Requirements
The UBC Board of Governors approved changes to the UBC Staff Pension Plan enrollment requirements last year. Those changes came in effect on April 1, 2020. You can read about the changes here.
All staff who are appointed full-time to a term of 12 months or longer or appointed full-time as a regular employee will be automatically enrolled in the UBC Staff Pension Plan as of April 1, 2020.
If you were hired before April 1, 2020 as a full-time employee in a term position of at least 12 months or a regular position, you were also automatically enrolled in the UBC Staff Pension Plan as of April 1, 2020, even if you had not opted in earlier.
For members who work part-time, you will be automatically enrolled when you become eligible for the pension plan. You can contact the UBC Staff Pension Administration Office with your specific questions.
Articles in your Collective Agreement regarding Pensions:
- Article 13.1: Pension Plan
- Article 14.5: Retirement Policy
- Letter of Agreement #2 – Re: Benefit Coverage Beyond Age 65 (includes section 4 on retirement options)
As always, AAPS is here to discuss concerns that you may have regarding the UBC Staff Pension Plan. Let us know if we can help.