Combination Pension Plan

About the Combination Pension Plan

The Combination Pension Plan is governed by the Pension Board and primarily covers faculty members, executives, librarians, and administration/professional staff.

Refer to the History of the Plan for a brief account of various revisions and amendments since the Plan was established in 1968.

This website is a summary only. For more information, please review the Combination Pension Plan Document, which provides a complete description of the plan, membership eligibility and enrollment, contributions, benefits, and other relevant topics.

Disclaimer: We make every effort to ensure that all information on this website is accurate and complete. Should any discrepancy exist, the Plan Documents, statutes, or regulations shall apply.

Governance

The Combination Pension Plan is governed and administered by a Board of Trustees (the "Pension Board"), which operates independently from the 番茄社区, under the terms of a Trust Agreement. More information about the Pension Board and its role and responsibilities can be found under the Governance section of this website.

Type of pension plan & membership

Members of other employee groups may belong to different pension plans. For more information about your membership, please visit which plan do I belong to?, review your paystub, or contact us.

There are different types of pension plans. The Combination Pension Plan is a hybrid pension plan, with elements of both a defined contribution plan and a defined benefit plan. It may be described as a defined contribution plan with a minimum defined benefit component.

During your employment at UVic, you and the University will both contribute to the plan’s funds through contributions. At retirement, you will have a range of options designed to allow tailoring of retirement income to suit your situation, preferences, and financial plan.

To find out more:

Understanding your pension plan