Pension and retirement plans

Pension plans

As a UFV employee, you may be eligible for enrolment in one of the following pension plans:

• College Pension Plan (faculty and senior administrators)
• Municipal Pension Plan (support staff)

How much are pension deductions?

Your pension deduction amount is defined by the pension plan you are enrolled in.

Find current rates:

• College Pension Plan guide for plan members
• Municipal Pension Plan guide for plan members

When can I retire?

Once you are enrolled in a pension plan you will receive an annual statement indicating your earliest retirement date. You can also register for myAccount on the BC Public Sector Pension Plans website and access your personal information including pension estimates for any date in the future:

• Municipal Pension Plan
• College Pension Plan

What happens to my health and dental benefits when I retire?

When you apply to receive a pension at retirement, you will have the option to enrol in group benefits offered by your pension plan.

Additional resources

If you are within five years of retirement, you are encouraged to attend a pension seminar:

• College Pension Plan seminars
• Municipal Pension Plan seminars

Group Retirement Savings Plan

UFV has established a Group Retirement Savings Plan (Group RRSP) to assist you in meeting your retirement goals. Under the Group RRSP, individual member plans are established for each employee joining the plan.

At retirement, the value of your account may be used to provide retirement income.

Review the information booklet‌ ‌for details about the main provisions of the Group RRSP for UFV.

For more information, please contact HRComp.Ben@ufv.ca.