College Pension Plan Survey

College Pension Plan Survey

In November, FPSE will be conducting a major survey of all faculty members on possible changes to the College Pension Plan. The College Pension plan is in sound financial shape, but Plan Partners are looking at options to improve various provisions in the Plan. FPSE has contracted Ipsos Reid to survey members on the options that are currently considered. This survey will be extremely important in informing potential changes to the benefits offered under our Plan. We therefore urge you to educate yourself before answering the survey.

Here is a pamphlet prepared by FPSE titled “Your Plan, Your Future: Options for Change,” along with a cover letter by FPSE President Cindy Oliver. These have been distributed to every faculty member’s mailbox.

The possible changes to the Plan that are being considered will affect members retiring in 40, 30, 20 or 10 years. Even if you are still years away from retirement, make sure that you are well prepared to answer the survey since changes will affect you most.

The FSA hosted an information session on November 1, 2012. Pension Plan Trustee Weldon Cowan joined us to further explain the options and answered questions. For those of you who were not able to attend, we have videotaped the session. Please contact the FSA office to obtain a link to this video.

Norm Taylor, the FSA’s representative to the FPSE Pension Advisory Committee, is also available to answer questions. He may be contacted at norm.taylor@ufv.ca. President Virginia Cooke may also be contacted if you have concerns or questions about the survey.

We anticipate the survey to be distributed in early November, although the exact dates have yet to be announced.

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