Updates on Plan Changes

October 18, 2024 Update

Filings and regulatory processes are underway to create a third pension plan to facilitate a windup.  The Actuary expects plan wind-up to be completed sometime in the second half of 2025 and members will receive option packages at that point. 

June 26, 2024 Letter from Eckler Ltd.

We are writing to you on behalf of Lakehead University to advise you about some upcoming changes to your pension plan arrangements from the Lakehead University Employee Pension Plan and the Pension Plan for Professional and Administrative Staff of Lakehead University.

In collaboration with employee representatives, Lakehead University has agreed to wind up the Plan.  However, due to restrictions in the Ontario pension legislation, the Plan cannot be fully wound up at this time.  Therefore, a new registered pension plan will be created and the defined contribution (“DC”) account balances will be transferred to the new plan.  Once the DC accounts have been transferred, the new plan will be wound up and you will be provided with a pension option election form setting out all of your options and relevant amounts.

We will continue to communicate with you, including providing you with notices as required by law, as this process progresses.  In the meantime, if you have any questions, please send an email to Clint Mason at crmason@lakeheadu.ca or call 807-343-8010 x7287 or Tara Schaan at tschaan@eckler.ca or call 204-988-1582.