Simplified Pension Plan (SPP)

This plan is managed externally by Industrial Alliance. For general inquiries please visit their website, or contact them at 1-866-567-5670.

The McGill University Simplified Pension Plan for Temporary Employees (SPP) allows Temporary Employees and Course Lecturers to save towards their retirement by offering similar advantages to those of the McGill University Pension Plan.

Eligible employees will make monthly contributions via payroll deduction together with University contributions which accumulate along with the investment income they generate, in order to provide an amount at retirement which can be converted into a pension.

Temporary Employees whose employment is similar or identical to regular Full-time Employees and Regular Part-time Employees participating in the McGill University Pension Plan may apply for membership in the SPP during the calendar year following the one in which they met one of the following conditions:

  • Received remuneration equal to or greater than 35% of the Quebec Pension Plan’s earnings limit ($19,215 in 2016; $19,335 in 2017), or
  • Completed at least 700 hours of employment.

In all cases, participation in the plan is your choice; it’s entirely optional.

If you choose to participate, your contribution rate is set at 5% (up to age 39), 7% (age 40 to 49) and 8% (from age 50 to 65) of your basic earnings less 1.8% of earnings subject to Quebec Pension Plan contributions ($54,900 in 2016; $55,300 in 2017). The University contribution which is at least equal to your own will increase in accordance with your age. You will also need to determine how to invest the monies contributed to the plan.

The administration of the plan is handled by the firm, Industrial Alliance.

PDF icon Changes to your Simplified Pension Plan

IA Enrolment Presentation for 2018 Enrolments