U of G Receives ‘Stage-One’ Approval for Pension Relief
The University of Guelph’s application for stage-one temporary pension relief has been approved by the provincial government. Under recent provincial legislation, universities facing significant solvency funding requirements for their pension plans were given the opportunity to seek temporary relief under certain conditions.
This means that U of G now has three years of stable and manageable pension contribution payments, and the possibility of a longer period to pay off its pension plan solvency deficit.