About the Staff Pension Plan
Governance
The Staff Pension Plan is administered by the University of Victoria. To carry out its responsibilities, the Board of Governors constituted three Committees whose roles are described under the Governance section of this website.
Type of pension plan and membership
Members of other employee groups may belong to different pension plans. 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 Staff Pension Plan is a defined benefit pension plan, which means that the amount you will receive when you retire is determined by a benefit formula based on applicable percentages and years of credited service, as well as your average salary and age at retirement. In this type of plan, contributions and investment returns do not determine the final benefit.
During your employment at UVic, you and the University will both contribute to the plan’s funds through contributions. At retirement, you will receive a benefit that will continue for the remainder of your life.
To find out more:
This website is a summary only. For more information, please review the Staff 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.