Sun Life has been selected as the custodian and recordkeeper for the University of British Columbia Faculty Pension Plan (FPP) in the largest deal of its kind ever completed in Canada.
Sun Life has been selected as the custodian and recordkeeper for the University of British Columbia Faculty Pension Plan (FPP) in the largest deal of its kind ever completed in Canada.
"Sun Life is delighted to be partnering with one of Canada's largest and most prestigious learning institutions", says Tom Reid, Senior Vice President, Group Retirement Services at Sun Life. "We have been working with UBC on their retirement plan for several years and moving to this unique co-administration model is a natural extension of a long standing relationship."
Sun Life will be the custodian and recordkeeper for approximately $2 billion in assets for 5,800 plan members. The UBC Pension Administration Office will continue to provide member services and support for their plan members.
"We want to offer our Plan members the best possible experience, which was why we chose Sun Life," says Joost Blom, Chair of the FPP Board of Trustees. "Their knowledge and expertise, coupled with their service commitment, were the deciding factors."
In assuming the mandate, Sun Life will enter into a co-administration model with the UBC Pension Administration Office.
The UBC Faculty Pension Plan is designed to help faculty and administrative executive staff save and invest for their future through a selection of diversified investment options.
At retirement, the Plan also offers members various retirement options, including variable pension payments and annuities.
The UBC Pension Administration Office had been administering the Plan since 1967.
By entering into a co-administration model with Sun Life, FPP members will gain access to Sun Life's full suite of member services, including the ability to transact daily, and access to the information, tools and services available at mysunlife.ca and via the Customer Care Centre.
"Sun Life is delighted to be partnering with one of Canada's largest and most prestigious learning institutions", says Tom Reid, Senior Vice President, Group Retirement Services at Sun Life. "We have been working with UBC on their retirement plan for several years and moving to this unique co-administration model is a natural extension of a long standing relationship."
Sun Life will be the custodian and recordkeeper for approximately $2 billion in assets for 5,800 plan members. The UBC Pension Administration Office will continue to provide member services and support for their plan members.
"We want to offer our Plan members the best possible experience, which was why we chose Sun Life," says Joost Blom, Chair of the FPP Board of Trustees. "Their knowledge and expertise, coupled with their service commitment, were the deciding factors."
In assuming the mandate, Sun Life will enter into a co-administration model with the UBC Pension Administration Office.
The UBC Faculty Pension Plan is designed to help faculty and administrative executive staff save and invest for their future through a selection of diversified investment options.
At retirement, the Plan also offers members various retirement options, including variable pension payments and annuities.
The UBC Pension Administration Office had been administering the Plan since 1967.
By entering into a co-administration model with Sun Life, FPP members will gain access to Sun Life's full suite of member services, including the ability to transact daily, and access to the information, tools and services available at mysunlife.ca and via the Customer Care Centre.
