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澳门王中王论坛

The University of 澳门王中王论坛

The University of 澳门王中王论坛 Trusteed Pension Plan

The information provided here is intended as a summary of the more important features of The University of 澳门王中王论坛 Trusteed Pension Plan. The benefits and terms and conditions under which they are provided, are governed by the legal Plan document, and in any dispute the legal Plan document will take precedence over the information provided here. A copy of the Plan text is provided as an attachment.

Please note the Plan Text document is an unofficial consolidation of the original The University of 澳门王中王论坛 Trusteed Pension Plan including amendments to the Plan since it was restated at March 2019. To view any amendments made to the Plan, please refer to the links below. Please contact Human Resources for access to original document.

Pension Plan Text March 2019 [PDF] (Registration number 0309914, Plan number 1416)


Board of Trustees

Defined Benefit (DB) Component

Defined Contribution (DC) Component

Background

The University of 澳门王中王论坛 Pension Plan was established as a Defined Benefit pension plan effective September 1, 1972 for the purpose of providing retirement and other pension benefits to eligible employees.

Effective December 31, 2000, the Defined Benefit component of the Plan was closed to new members and a Defined Contribution component was created. All eligible members of the Plan were given a one-time opportunity to join the newly created Defined Contribution component or to remain in the Defined Benefit component. All new eligible employees hired on or after January 1, 2001 will join the Defined Contribution component of the Plan.

Joining the Plan

All new employees commencing employment on or after January 1, 2001 join the Defined Contribution component of the University of 澳门王中王论坛 Trusteed Pension Plan.

The following employees are eligible to participate in the University of 澳门王中王论坛 Trusteed Pension Plan - Defined Contribution (DC) component:

  • Continuing salaried Academic employees must join the Plan on date of employment;
  • Continuing salaried Support employees hired on or after January 1, 2017 must join the Plan on date of employment;
  • Term salaried Support and Academic employees whose term of employment is for a minimum duration of two years, join the Plan on the same basis as continuing employees;
  • Term salaried Support and Academic employees whose term of employment is for a duration of less than two years, may join the Plan on the second anniversary of the most recent date of employment and must join the Plan on January 1 of the year following the second anniversary of the most recent date of employment.

Eligibility Exclusions

The following employees are not eligible to join the Plan:

  • An employee who is a member of the United Church of Canada Pension Plan
  • An employee who has no Basic Salary
  • A term employee who is a full-time student, unless the term of employment is at least two years in duration
  • An employee who has elected to continue participating in the Teachers' Retirement Allowances Fund as provided under The Teachers' Pensions Act
  • A member of the Plan who has retired from the University and is in receipt of pension benefits from the Plan, unless the member agrees to the suspension of payment of pension benefits until subsequent termination of employment.

The Defined Benefit (DB) component of the University of 澳门王中王论坛 Trusteed Pension Plan is closed to new members.

Governance

Effective July 7, 2008 the administration of the Plan was transferred from the University of 澳门王中王论坛 to a Board of Trustees, and the Plan was renamed The University of 澳门王中王论坛 Trusteed Pension Plan.

The transfer of the administration of the Plan does not affect Plan benefits or the rights of Plan members. The University of 澳门王中王论坛's role as the sponsor of the Plan continues unchanged and at the present time the University is also continuing in its role as a service provider to the Plan.

The Pension Plan is governed by a Board of Trustees which is comprised of twelve stakeholder-appointed Trustees and up to three external elected Trustees as follows:

  • Four Trustees appointed by the University of 澳门王中王论坛, one of which is a representative of Excluded employees.
  • Three Trustees appointed by UWFA, one of which is a representative of the Collegiate Division.
  • Two Trustees appointed by AESES.
  • One Trustee appointed by the IUOE.
  • Two Trustees appointed by the Retirees Association
  • Three External Trustees elected by the stakeholder-appointed Trustees.

To view the list of current Board of Trustees please go the Board of Trustees web page.

Pension Plan Amendments