The primary purpose of this newsletter is:
- to review investments and investment performance of the plan in 2025
- to provide membership data information
- to report on the activities of the Academic Money Purchase Pension Plan Committee (AMPPC)
Pension Plan Information
Market value of pension plan assets
as of Dec. 31, 2025
|
Fund
|
2025
|
|
| Target Date Funds | $943,959,000 | |
| US Equity Index Fund | $72,704,000 | |
| Canadian Equity Fund | $40,303,000 | |
| International Equity Fund | $26,076,000 | |
| Money Market/GDIA | $29,593,000 | |
| Universe Bond Index Fund | $24,079,000 | |
| Total market value | $1,136,714,000 | |
Distribution of assets among investment managers
as of Dec. 31, 2025
|
Investment Manager
|
2025
|
|
| BlackRock Asset Management | $772,136,000 | |
| Mawer Investment Management | $218,330,000 | |
| Beutel Goodman & Company | $58,389,000 | |
| Galibier Capital Management | $46,533,000 | |
| Foyston, Gordon and Payne | $11,733,000 | |
| Sun Life Money Market/GDIA | $29,593,000 | |
Allocating member funds among various investment options
As plan members have differing risk preferences, the plan makes several investment options available to members. These options allow members to select segregated funds with a mix of underlying assets that meet their investment needs.
The Asset Allocation Tool, provided on the Sun Life member website, helps to determine the type of investor you are, and provides information to help you understand risk, the benefits of diversification and develop an investment mix to match your goals.
Investment performance
The following is a summary of the Plan’s annual investment performance exclusive of Plan expenses.
as at Dec. 31, 2025
| Investment Performance by Fund | 2025 | Last four years | Your Fees | Average Retail Fees* |
| Money Market | 0.11% | 0.89% | ||
| Return | 2.9% | 3.5% | ||
| Benchmark | 2.8% | 3.6% | ||
| Bond Fund | 0.09% | 0.89% | ||
| Return | 2.6% | 0.2% | ||
| Benchmark | 2.6% | 0.2% | ||
| Canadian Equity | 0.38% | 1.76% | ||
| Return | 18.4% | 10.2% | ||
| Benchmark | 31.7% | 13.9% | ||
| U.S. Equity | 0.09% | 1.76% | ||
| Return | 12.3% | 13.4% | ||
| Benchmark | 12.4% | 13.4% | ||
| International Equity Fund | 0.57% | 1.76% | ||
| Return | 20.2% | 7.7% | ||
| Benchmark | 26.2% | 10.2% |
The benchmark portfolios for each of the funds have been determined using the actual returns of the market indexes such as the FTSE Canada 91-Day Treasury Bills, the FTSE Canada Universe Bond Index, the S&P/TSX Capped Composite Index, Standard and Poor’s 500 U. S. Stock Index and Morgan Stanley’s All Country World Index, excluding USA.
Source: Morningstar Investment Management Company
| Investment Performance by Fund | 2025 | Your Fees | Average Retail Fees* |
| Target Date Fund Retirement | 0.17% | 1.90% | |
| Return | 9.0% | ||
| Benchmark | 10.4% | ||
| Target Date Fund 2015 | 0.24% | 1.90% | |
| Return | 9.1% | ||
| Benchmark | 10.4% | ||
| Target Date Fund 2020 | 0.26% | 1.90% | |
| Return | 10.3% | ||
| Benchmark | 11.7% | ||
| Target Date Fund 2025 | 0.29% | 1.90% | |
| Return | 11.4% | ||
| Benchmark | 13.0% | ||
| Target Date Fund 2030 | 0.32% | 1.90% | |
| Return | 13.6% | ||
| Benchmark | 15.6% | ||
| Target Date Fund 2035 | 0.35% | 1.90% | |
| Return | 15.2% | ||
| Benchmark | 17.6% | ||
| Target Date Fund 2040 | 0.37% | 1.90% | |
| Return | 16.4% | ||
| Benchmark | 19.1% | ||
| Target Date Fund 2045 | 0.38% | 1.90% | |
| Return | 17.2% | ||
| Benchmark | 20.0% | ||
| Target Date Fund 2050 | 0.38% | 1.90% | |
| Return | 17.2% | ||
| Benchmark | 20.0% | ||
| Target Date Fund 2055 | 0.38% | 1.90% | |
| Return | 17.2% | ||
| Benchmark | 20.0% | ||
| Target Date Fund 2060 | 0.38% | 1.90% | |
| Return | 17.2% | ||
| Benchmark | 20.0% | ||
| Target Date Fund 2065 | 0.38% | 1.90% | |
| Return | 17.2% | ||
| Benchmark | 20.0% |
How your pension works
As a member of the pension plan, you contribute and the University makes matching contributions to a pension account in your name.
You choose how to invest the contributions made to your account so that they can accumulate interest—that means your contributions grow over time.
When you retire, you use your total pension account balance as a source of retirement income.
Sun Life offers several online tools, including the Asset Allocation tool, which helps you determine your investing risk tolerance. Members are reminded of their responsibility to review periodically the portfolio structure of their participation in the Plan and to revise it as appropriate given their needs.
Membership data
as of Dec. 31, 2025
Active members
Other Members
(inactive, deferred, pending transfers)
Total membership
Target Date Distribution
| Target Date Fund 2020 | 2 |
| Target Date Fund 2025 | 243 |
| Target Date Fund 2030 | 401 |
| Target Date Fund 2035 | 448 |
| Target Date Fund 2040 | 533 |
| Target Date Fund 2045 | 544 |
| Target Date Fund 2050 | 563 |
| Target Date Fund 2055 | 355 |
| Target Date Fund 2060 | 157 |
| Target Date Fund 2065 | 76 |
Membership asset breakdown
as of Dec. 31, 2025
|
Employment Group
|
Assets
|
|
| University of Saskatchewan Faculty Association (USFA) | $656,170,000 | |
| Administrative and Supervisory Personnel Association (ASPA) | $304,115,000 | |
| Exempt | $99,992,000 | |
| Senior Administration | $74,991,000 | |
The above amounts exclude $1,446,000 of pooled funds held for plan expenses
Membership numbers
as of Dec. 31, 2025
|
Employment Group
|
Members
|
|
| USFA | 1,265 | |
| ASPA | 1,885 | |
| Exempt | 398 | |
| Senior Administration | 109 | |
The University of Saskatchewan offers a Group Retirement Fund through Sun Life Financial to plan members. When the time comes to convert your retirement savings to retirement income, you can choose to direct your money to this USask customized Prescribed Retirement Income Fund (PRIF). You can invest your savings in the same great investment funds that were available to you as an active plan member and you will continue to benefit from the same low investment management fees. You also have access to licensed Retirement Consultants at no cost to you.
Committee
Academic Money Purchase Pension committee members
USFA Representatives
- Marie Racine (Chair), Finance and Management Science
- Andreas Pollak, Economics
- Stuart Smyth, Agriculture and Bioresouces
Observer
- Ken Glover, ASPA
Board of Governor Representatives
- Keiran Killick, Administration
- Julia Ukrainetz, Administration
- Marnie Wright, Administration
Committee meetings
The Academic Money Purchase Pension Plan Committee met four times during the year. The Committee is responsible to monitor the governance, administration and operation of the plan and to provide recommendations to the Board of Governors on a timely basis. Below outlines the committee activities over the past year:
| June 12, 2026 | 4.0 hours |
|
| March 20, 2026 | 3.0 hours |
|
| Dec. 11, 2025 | 4.0 hours |
|
| Oct. 3, 2025 | 3.0 hours |
|
Financial wellness
As part of the ongoing education and communication strategy, the AMPPC organized several information sessions presented by Sun Life, including:
Education sessions
Essential Financial Wellness topics
- Building your wealth through investing
- How to start saving today?
- Save for retirement now
- Reviewing your financial roadmap
- Maximizing your retirement: understanding CPP/QPP, OAS and GIS benefits
- 5 steps to boost your financial health
In Depth Financial Wellness
- Making the most of your retirement with Sun Life
- Estate and taxes: The essentials
- Financial planning for the modern family
- Building a resilient retirement paycheque
- Your health and wealth – what’s the connection?
- Navigating the sandwich generation: three generations, one financial strategy
One-on-one sessions
These sessions, with a Sun Life Financial Education Consultant, address specific questions and provide details relating to the 2000 Academic Money Purchase Pension Plan.
Sun Life Retirement Consultants were also available to meet with those within three-to-five years of retirement.
Annual general meeting
Provided members with the opportunity to discuss the annual performance of the plan with our investment consultant. A Sun Life representative also provided a presentation on the University of Saskatchewan Group Retirement Fund; a custom Prescribed Retirement Income Fund (PRIF) available to University of Saskatchewan plan members.
Plan information
Plan documents
Copies of the following documents are on file in the Pension office (USask Administration). They are available for inspection by any member of the plan during regular working hours by prior arrangements.
- plan text
- financial statements
- auditor’s report
- committee meeting agendas and minutes
Sun Life
Pension plan members can view the following at Sun Life's website:
- Investment risk profile
- Investment performance information
- Account balance
- Asset allocation and transaction decisions
- Quarterly statements
Other agents of the plan
- Investment Consultant: Aon
- Record Keeper: Sun Life Financial
Pension Administration and Support
Room E140 Administration Building
University of Saskatchewan
105 Administration Place
Saskatoon, SK S7N 5A2
(306) 966-6633
(306) 966-2036
pension@usask.ca