Academic Supplementary Retirement Plan
Privacy breach impacting ASRP members between 2013 and 2016
Approximately 1,000 Academic Supplementary Retirement Plan members (between 2013 and 2016) were recently impacted by a privacy breach resulting from a limited cybersecurity incident. These individuals are being directly notified by mail and are being offered supports. If you received notification and have further questions, a contact centre is available to assist you. Learn more »
The Academic Supplementary Retirement Plan provides additional employer funded retirement income for eligible staff who are members of the Universities Academic Pension Plan (UAPP) and have annual UAPP pensionable earnings that exceed the maximum salary covered by the UAPP.
Eligibility
The Academic Supplementary Retirement Plan (ASRP) became effective on July 1, 2009. The plan is a negotiated component of total compensation for Academic staff appointed to continuing full and part-time positions in the Faculty, Librarian, Administrative Professional Officer, and Faculty Service Officer agreements.
To be a member of the ASRP, eligible staff must have pensionable earnings that exceed the annual UAPP maximum salary in one or more of the following plan years up to the maximum negotiated ASRP limit.
Year |
UAPP Annual Pensionable Salary Maximum |
ASRP Maximum |
|---|---|---|
| 2022 | $190,470 | $220,668 |
| 2021 | $180,758 | $220,668 |
| 2020 | $172,221.11 | $220,668 |
| 2019 | $168,497.78 | $220,668 |
| 2018 | $163,992.22 | $216,162 |
| 2017 | $162,312.22 | $213,395 |
| 2016 | $160,970 | $205,895 |
| 2015 | $157,024.50 | $205,895 |
| 2014 | $154,250 | $205,895 |
| 2013 | $150,164 | $202,553 |
| 2012 | $147,364 | $199,265 |
| 2011 | $142,101 | $195,358 |
| 2010 | $138,882 | $191,998 |
| 2009 | $136,112 | $180,000 |
ASRP Benefits
Unlike the UAPP, which is a defined benefit plan, the ASRP is a defined contribution plan. Annual notional contributions are based on ASRP points. Your ASRP points are equal to your age plus years of continuous service (including any leaves of absence) in an eligible ASRP agreement as of December 31 of each year.
ASRP Points |
Annual Contribution Rate |
|---|---|
| Less than 55 points | 8% |
| 55 to less than 80 points | 12% |
| 80 points or more | 16% |
ASRP Investment Returns
ASRP average annual notional contributions are credited with interest based on the DEX Canadian 91 Day Treasury Bill Return. ASRP accrued notional account balances (account balances carried forward year to year) are then credited with the annual return (positive or negative) of the TD Emerald Balanced Fund.
ASRP Investment Option
Plan members have a one-time option to change the basis for the investment return calculation on their accrued notional account balance from the TD Emerald Balanced Fund to the DEX Canadian 91 Day Treasury Bill return. This change can be made by submitting an Investment Change form to HRS. Change requests are effective first day of the month following receipt of form.