The Professional Plan

 

 

The Professional Plan is a defined benefit pension plan which UGFA Members contribute to.
 

 

 

Eligibility

 

Regular full-time UGFA Members become members of the Professional Plan on the first day of the month coincident with or immediately following the date of employment. Temporary full-time or a part-time Members, can join the Professional Plan after you having been employed for 24 continuous months, and having: 1) earned at least 35 per cent of the Canada Pension Plan's Yearly Maximum Pensionable Earnings (YMPE) from employment with the University of Guelph in each of the two consecutive calendar years just prior to joining the plan; or 2) worked at least 700 hours a year at the University of Guelph in each of the two consecutive calendar years just prior to joining the plan.


Payment into the Plan

 

Your contributions, together with those of the University, are paid into a pension trust fund. The services of professional money management firms are used to invest the fund.  The YMPE for 2015 is $53,600. 
 

Schedule of Rate Changes:

 

 Date July 1, 2014 July 1, 2015 July 1, 2016
 Below YMPE      7.3%      7.3%      7.8%
 Above YMPE      9.0%      9.0%      9.5%

 


Calculating your Pension

 

The Pay & Pension Link allows UofG employees, using different assumptions, to see estimated values of their future pension with standard web browsers. It also provides a summary of recent pay information.
 

 

UGFA Pension News

Resources

UPP Design Framework

 

(last modified March 16, 2015)