News & Events

SPP: COLA update

The UVic Staff Pension Plan is indexed for inflation, which means that each year, pensions receive a Cost of Living Adjustment (COLA). This adjustment is calculated by determining the average Canadian Consumer Price Index (CPI) of the past 12 months (ie October 2021 to September 2022), compared to the average of the previous 12 months.

CPP Valuation Update

An actuarial valuation was completed earlier this year for the defined benefit component of the Combination Pension Plan. The valuation, which covered the three-year period from the beginning of 2019 through the end of 2021, shows that the Plan continues to have a solid foundation for providing financial security to its members.

IVA - COLA

With the current economic situation, inflation and changes to cost of living are top of mind. For pensioners who have elected an Internal Variable Annuity (IVA), such discussion may also raise questions about the calculation of Cost of Living Adjustments (COLA).

2022 CPP & MPP AGM

The Pension Board of Trustees will be holding its Annual General Meeting of the membership on Wednesday July 6, 2022, from 4:30 to 6:00pm. Join us for a report on Board activities and performance of Plan funds in 2021. This meeting will be virtual. Members of the plan will receive an invitation in the mail with directions for registering for the meeting. Members can also contact the Pension Services office for more details: pensionsAGM@uvic.ca

The War in the Ukraine: Pension Investments

As the University of Victoria has stated, we are deeply troubled about Russia’s military attacks in Ukraine, the impact on the country’s citizens and international stability, and the impact for university community members. The Combination Pension Plan, Money Purchase Pension Plan and Staff Pension Plan each have several investment managers. These managers are responsible for different types of assets. Two of these investment managers – BCI and PH&N – have indicated that a fraction of a percentage of their total assets under management are invested in Russia. The exposure of UVic pension plans to those investments is in itself quite limited. However, we have been assured by these managers that they are now addressing these investments through their internal processes, which are evolving as the situation changes. We are closely monitoring the situation in the Ukraine and its global impacts. Pension Services, the Pension Board of Trustees and Staff Pension Plan Committees are staying apprised of developments. We continue to work with the investment managers and investment consultants for each plan to monitor and assess the situation.

Combination Plan contribution rate change effective January 01 2020

As communicated to members earlier in 2019, the Pension Board recently decided that the Plan is sufficiently healthy to reduce the contribution rate for the Defined Retirement Benefit Account (DRBA), which funds the defined benefit component of the Combination Pension Plan. This contribution rate has been set at 5.05% of salary since 2011 and will now be reduced to 4% effective January 1, 2020.

Pension Board election update

In November 2019, Dr. Michael Miller and Ms. Susan Service we re-elected as Trustees on the Pension Board, for three year terms starting January 01, 2020. The next election for two positions on the Pension Board will be held in 2020, for terms beginning January 01, 2021. For more information, please visit the Governance section of the Combination Pension Plan webpage.

Mustard Seed & Multifaith Centre Food Share Program

This foodshare program provides food for UVic students through the Multifaith Centre.

Career Doctor - Pop-up career advice

Is your future in good health? Talk to the Career Doctor today!

Pet Cafe

Join us Wednesday afternoons for cuddles with therapy dogs while enjoying free coffee, tea, and cookies.

Physics and Astronomy Colloquium (In Person Only): Dr. Sara Ellison, University of Victoria

"Clash of the Titans: Galaxy mergers in the nearby Universe"

Astronomy's current model of galaxy evolution is built on a foundation of hierarchical growth, in which small galaxies merge together to form larger ones. In addition to the simple accrual of mass,this merging process is predicted to fundamentally change the galaxies' properties, such as dramatic morphological transformations, the triggering of bursts of star formation and high rates ofaccretion onto the central supermassive black hole. In this talk I will explain the physical processes behind these predictions, and present the observations that we are performing in order to testthe theory.

Operator Theory Seminar: Nuclearity results for Toeplitz Algebras of Product Systems

Speaker: Marcelo Laca, University of Victoria
Location: A330
Event type: Operator theory seminar

Deadline: in-term invigilation requests

Invigilation requests for in-term exams are due at 4 p.m.

The Chorus is Speaking: Experiencing Identities of Blackness in Canada

Join us at UVic's Legacy Art Gallery Downtown for a reception to celebrate the work of Ojo Agi - Christina Battle - Charles Campbell - Chantal Gibson - Dana Inkster - Karin Jones - Jan Wade -Syrus Marcus Ware; 8 artists of incredible insight and inventiveness brought together in an exploration of facets of the Black experience on Turtle Island through sculpture, drawing and painting,installation, film, and poetry. Curated by Michelle Jacques and Jenelle Pasiechnik (UVic MA, 2015).