The pension plans at Western are defined contribution plans (also called capital accumulation plans). Both Western and the member make contributions to an account in the member's name, and the member owns all of the money in the account. It is the responsibility of each member to make decisions on the investments held within their account. When a member leaves Western or retires there are a number of options for the accumulated savings.
Human Resource Services and Sun Life Financial offer education programs to assist members in understanding and evaluating their responsibilities and options as they navigate their journey towards retirement.
Plan your journey to retirement! The sessions are facilitated by an external consultant who will lead an unbiased discussion of the role of the Western pension, government pensions and private savings in retirement income planning. Additional topics may include preparing for the transition into retirement, investing in retirement, and tax planning.
NOTE: Participation in the full-day workshop is intended only once in your career. Please contact Human Resources if you wish to discuss the timing of your attendance. As well, Human Resources recommends that employees be supported in attending this session by being granted paid time off to attend where the session occurs during an employee's normal work hours. Approval for time away from work is at the discretion of the leader and subject to the needs of the unit.
Registration is open for the full-day pre-retirement planning workshop. Workshops for 2018 are complete. 2019 workshops are on the following dates:
Who should attend: Faculty and Staff members aged 45 plus who are considering retirement within the next 10 years. The sessions are open to all members of the Academic and Administrative Staff pension plans. Spouses are welcome and are encouraged to attend with the plan member. If your spouse will be joining you and is also an employee they should register themselves as outlined below. If your spouse is not an employee please register yourself as outlined in the instructions below and email.
To Register: Log in to My Human Resources, choose Training, then Enroll in Internal Training Courses. Search by Course Name Retirement or by Course Number RETWFD. NOTE: If a session date listed above does not appear when you login it means the session is already full. You may check back later or email firstname.lastname@example.org to be placed on a waitlist.
Read detailed registration instructions.
Throughout the year Sun Life Financial hosts live online webinars on a variety of interesting and informative topics to help you manage your money, invest with confidence and plan your retirement. Registration opens eight to ten weeks before each scheduled webinar.
Visit the Sun Life webinar webpage to browse topics and dates, and to register.
The Annual Meetings are a great opportunity for you to increase your understanding of Western's Pension Plans, review performance and Plan changes, learn what other members are doing and hear about the projects ahead for the Joint Pension Board. Attend a session and gather information that will help you plan your journey to retirement. The evening meeting will feature a guest speaker!
Who should attend: Faculty and Staff of all ages who are participating in or eligible to join the Western Pension Plans. Spouses are welcome. (Registration not required.)
Time and Location: Watch here for our dates in spring 2019.
Watch this space for our 2019 sessions.
Financial wellness is an integral part of our overall wellness. Each year in November, Western Human Resources celebrates Financial Literacy Week by presenting free financial workshops. Financial literacy is about having the knowledge, skill and confidence to make responsible financial decisions. Our 2018 session topics included: