Each of Western’s pension plans (Academic and Administrative) are administered by a Pension Board consisting of up to four members of the plan and three appointed members who are common on both Boards. The Academic and Administrative Staff Pension Boards work together as the Joint Pension Board. The Boards are standing committees of the Board of Governors and have been delegated the responsibility of administering the respective pension plans. Human Resources has been delegated the responsibility for the day to day operations of the plans.
The Joint Pension Board, while responsible for the overall administration of the plans, has contracted the assistance of many professionals. They include investment managers, an investment management consultant, auditors and an actuarial consultant. The Board has employed the services of Frank Russell Canada Limited to provide advice and guidance in the selection and hiring of the investment managers for the various investment funds.
Election results - Joint Pension Board
As a result of voting taking place the week of April 19 - 21, 2016, we are pleased to let you know that two new members have been elected to the Joint Pension Board, effective July 1, 2016.
Academic Pension Board - Stephen Foerster (re-elected) - Professor of Finance in the Ivey Business School
Administrative Pension Board - Megan Clements - Director of Administration, Don Wright Faculty of Music
Many thanks to all active Pension Plan members who voted, and to all nominees for your interest in the Joint Pension Board.
"Our Mission is to provide members with the opportunity to accumulate adequate funds for retirement. We seek to provide sufficient choices but not onerous choices. We seek to provide services and options on a cost effective basis to accommodate members who are active in the management of their retirement savings and also for those members who look to the board for guidance. We will provide these services and options while following our principles."