The Supplemental Notional Arrangement (SNA) will end on April 30, 2018. Notional contributions under the program will stop accruing after this date. Per the terms of the program, it was subject to review by December 31, 2016. Following evaluation, the program’s end date has been established as April 30, 2018.
The SNA program was designed as an interim measure to allow those nearing retirement the opportunity to gradually adjust their retirement savings following Amendment No. 24 to the McGill University Pension Plan in 2012.
Payments will be made to members whose accumulated notional contributions exceed the value of their defined benefit minimum supplement paid under the McGill University Pension Plan at age 65. The timing of the payment will be communicated at a later date.
SNA account balances can be viewed by logging into the McGill University Savings Programs website using your McGill username and password on the following link: http://www.mcgill.ca/hr/pensions/mupp/mupp-login.
For more information on the Supplemental Notional Arrangement, please refer to the documents below:
- Supplemental Notional Arrangement - Text - November 2012
- Supplemental Notional Arrangement - Design - November 2012
- Supplemental Notional Arrangement - Presentation - January 31, 2013