The Pension Committee is responsible for consideration of policy and for monitoring matters affecting the administration of the University’s registered pension plan: University of Toronto Pension Plan. The Committee is also responsible for consideration of policy and for monitoring matters affecting the administration of the Supplemental Retirement Arrangements (S.R.A.). For purposes of the Pension Committee’s terms of reference, the registered plan and the S.R.A. shall collectively be referred to as the "pension plans”.
The Pension Committee is not responsible for recommending or determining the terms of the pension plans, including the benefits to be paid to the retired members of the pension plans, the contributions required from the active members of the plans to earn those benefits, and the groups of employees who are to be members of the plans. Such matters are determined through the University's usual processes including the budget process and, where applicable, collective bargaining or some similar process.
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