The Pension Plan of the Employees of OCAD University is designed to assist you in preparing for retirement by providing you with a vehicle, in addition to Canada Pension Plan, Old Age Security Benefits and your personal savings, to assist in ensuring financial stability in your retirement years.
Pension Plan details
The OCAD U pension plan is a Defined Contribution plan where contributions to the plan are made on your behalf from your required contributions, your voluntary contributions and OCAD U’s matching of your required contributions. The accumulated value of these contributions is used to purchase a retirement income.
As a plan member, you are required to contribute at either the high (7.5% of gross-monthly earnings) or low (5% of gross-monthly earnings) contribution levels, subject to yearly maximums as set out in the Income Tax Act. Membership in the plan, while voluntary, is strongly recommended.
The plan is administered by Great West Life, Group Retirement Services.
Pension Benefits Booklet
Pension Booklet (PDF)
When you are eligible to enroll in the plan, Human Resources will forward an information package to you and will invite you to meet to discuss your enrollment.
The Human Resources office, in conjunction with Group Retirement Services, offers semi-annual information sessions about the pension plan. Session details are communicated by email and through the HR Spotlight.
GRSAccess and iAcquaint
A number of investment and education tools are available to those enrolled or eligible to participate in the OCAD U Pension Plan at the secure GRSAccess website, www.grsaccess.com.
Members, you may also access the site to modify your investments, view or print your member statements and update your contact information. As a plan member, you also have access to iAcquaint, a comprehensive financial education, counselling and planning tool available through GRSAccess under the Learning Centre category.
If you are eligible to participate, but are not yet enrolled in the plan and would like guest-access to the GRSAccess site, please contact firstname.lastname@example.org. If you are enrolled in the plan and require a new login, please contact Group Retirement Services at 1-800-724-3402.
Pension Plan information from Group Retirement Services
Presentation - Introduction to the OCAD U Pension Plan (PDF)
Presentation - Retirement Income Options (PDF)
Presentation - Financial Planning 101 (+iAcquaint) (PDF)
Presentation - Monitoring Your Pension Plan (PDF)
iAcquaint Information Sheet (PDF)
Market volatility (PDF)
GRS letter re corporate holdings Oct 2, 2008 (PDF)