About the Money Purchase Pension Plan

CPP-Home — The Money Purchase Pension Plan is governed by the Pension Board and primarily covers assistant and associate teaching professors, teaching professors, sessional lecturers, as well as part time (more than 50% of full time) professional and management employees.

Governance

The Money Purchase Pension Plan is governed and administered by a Pension Board of Trustees, who operates independently from the University of Victoria, under the terms of a Trust Agreement. More information about the Trustees and their roles and responsibilities can be found under the Governance section of this website.

Type of pension plan & membership

For more information about your membership, please visit which plan do I belong to?, review your paystub, or contact us.

There are different types of pension plans. The Money Purchase Pension Plan is a defined contribution plan, which means that contributions accumulate in a member's account and can be used to purchase a pension at retirement.

During your employment at UVic, you and the University will both contribute to the plan’s funds through contributions. At retirement, you will have a range of options designed to allow tailoring of retirement income to suit your situation, preferences, and financial plan.

To find out more:

Understanding your pension plan

Refer to the History of the Plan for a brief account of various amendments and revisions since the Plan's establishment in 1991.

This website is a summary only. For more information, please review the Money Purchase Pension Plan Document, which provides a complete description of the plan, membership eligibility and enrollment, contributions, benefits, and other relevant topics.

Disclaimer: We make every effort to ensure that all information on this website is accurate and complete. Should any discrepancy exist, the Plan Documents, statutes, or regulations shall apply.