Sun Life wins custodial deal with UBC pension plan
Involves 5,800 plan members
07/16/2015|hrreporter.com|Last Updated: 07/16/2015
TORONTO (Reuters) — Sun Life Financial said on Thursday it has been selected as the custodian and record keeper for the University of British Columbia Faculty Pension Plan in a deal involving $2 billion in assets.
Under the terms of the deal, which the insurer said is the largest of its kind in Canada, Sun Life will be the custodian and record keeper for 5,800 plan members.
The UBC Pension Administration Office had been administering the faculty pension plan since 1967.