A Bumpy Road to Pension Reform

An article from our upcoming Winter 2018 Newsletter, available in February

The University of Guelph is continuing to move toward participation in a new multi-university sector Jointly Sponsored Pension Plan (JSSP).  Progress however, has not been easy.

The University Pension Project was formally launched in 2014, led by the Council of Ontario Universities (COU) and the Ontario Confederation of University Faculty Associations (OCUFA), with the goal of creating a multi-employer, jointly-sponsored pension plan.  The University of Guelph has been an enthusiastic participant, with representation from the administration, the Faculty Association and other bargaining groups.

As of last August, a tentative agreement had been reached between three universities: Guelph, Toronto and Queen’s to move forward with a new JSPP.  The tentative agreement included the three faculty associations and the United Steelworkers union.  It has not been an easy negotiation process however. Several universities in Ontario did not take part in the initiative and numerous bargaining groups in each of the remaining universities withdrew from the discussions.

The target date for implementation of the new JSPP is July of 2019.  The participants are now entering the “communications” phase.  Current employees of each university will have to vote in favour of proceeding.  Although retirees are not significantly affected by the move, we also have a voice regarding the proposal.  Please stay tuned; UGRA is prepared to assist the University in communicating information to Guelph retirees.

Doug Badger, CPA CGA (Retired), member of the UGRA Exec

Leave a Reply

Your email address will not be published. Required fields are marked *