Your statement summarizes the pension benefits you have earned under the University of Toronto Pension Plan (the “U of T Pension Plan”) to June 30, 2020. Remember that since 2012, statements are now provided exclusively online on ESS.
Conversion to the University Pension Plan Ontario (UPP)
On November 12, 2020, the Financial Services Regulatory Authority of Ontario granted consent to the University’s application to convert the U of T Pension Plan to the University Pension Plan Ontario (the “UPP”) effective July 1, 2021.
The conversion will mean that the pension benefits you earned in the U of T Pension Plan will be transferred to and become payable from the UPP, and on and after July 1, 2021, you will begin contributing to and earning benefits under the provisions of the UPP.
Important information about the pension plan is available in this PDF attachment and the About the University Pension Plan article in the HR Service Centre.
Changes for the 2020 Annual Pension Statements and Online Pension Calculator
In anticipation of the conversion of the U of T Pension Plan to the UPP, your 2020 Annual Pension Statement does not contain a projection of future service under the U of T Pension Plan.
As previously announced, the online pension calculator provided by the University was enhanced and updated to include UPP provisions. This update enables you to see an estimate of the benefits you may earn under the provisions of the U of T Pension Plan for service up to June 30, 2021, and under the provisions of the UPP on or after July 1, 2021.
For more information about the enhanced online pension calculator, including a “How to Use the Pension Estimate Tool” user guide and frequently asked questions, please refer to the Pension Estimates and Statements article located in the HR Service Centre.
How to view your pension statements
Please refer to the Pension Estimates and Statements article located in the HR Service Centre.
If you would prefer to receive a printed copy of your statement, please contact University of Toronto Pension Services at 1.888.852.2559, Monday to Friday, 8:30 a.m. to 5:00 p.m.