The 2008 Personal Statement of Pension Benefits and the Retirement Plans Annual Report will be mailed by March 27.
Members are being encouraged to review their personal statement and annual report and to keep the information for future reference.
Assumptions about future investment returns and life annuity rates have been made to estimate the account balance on the normal retirement date and the pension income that might be expected during retirement.
Based on current market conditions the estimated future amount of your account balance at retirement date has been calculated using an assumed rate of return of 6.5 per cent, down from 6.75 per cent. The annuity rate assumption used to project pension income at retirement date is the same as last year at 4.0 per cent.
Starting in 2010, Western will provide the annual report electronically, although a printed copy will be available. Human Resources will contact pension plan members in 2010 about the implementation of this change.
The personal statement of pension benefits will continue to be provided in paper form next year.
If you have questions contact a pension staff member at Human Resources Communication Centre: 519-661-2194 or ext. 82194, or by email at hr-communication@uwo.ca.
For more information, visit www.uwo.ca/humanresources/facultystaff/comp/pension_index.htm