Compensation and Benefits
UBC offers competitive salaries and a competitive benefits program, which includes options for extended health, dental, life insurance, tuition credits, and a pension plan. Details of all benefits may be obtained through the Human Resources Department or your Head. General information is available at UBC Human Resources.
Your starting salary will be established at the time of initial appointment and is set largely on the basis of the salary profile within your Department.
Salary increases and other benefits are negotiated periodically by the Faculty Association. Increases may include up to four components:
- a general wage increase provided to all continuing members
- a Career Progress Increment, which is awarded to eligible members according to agreed guidelines on the basis of years in each rank
- a Merit Increase, for which criteria are the same as for promotion and tenure for the period under assessment, based on a recommendation by the Head, in consultation with a department committee
- a Performance Salary Adjustment (PSA), which is a provision for redressing anomalies and inequities.
You are entitled to earn additional professional income in various ways, and subject to various guidelines. These include:
- income from consulting activity, generally limited to 52 days per year
- stipends associated with research contracts that you secure
- income through technology transfer activity associated with intellectual property, most often through licenses, royalties and the creation of spin-off companies
- income through additional contributions considered to be beyond your normal University load (e.g. participation in a continuing education course).
Health benefits available to faculty members include: Medical Services Plan of British Columbia (MSP), Extended Health Plan and Dental Plan. For details, refer to UBC Faculty Association Health Benefits.
Faculty Pension Plan
The Faculty Pension Plan is a "money purchase" or defined contribution type of plan with contributions made by you and UBC. Currently, members may choose from five investment funds (Balanced, Canadian Equity, Foreign Equity, Bond and Short Term Investment Funds). In addition to these five investment funds, the Plan also offers Guaranteed Investment Certificates.
Upon retirement or resignation from the University, the full value of the Plan account is available for your benefit. Depending on length of plan membership, various options are available including transfer to another pension plan or to an RRSP, purchase of a LIF or RRIF, purchase of an external life annuity, cash withdrawal, or purchase of a variable UBC annuity.
Participation in the UBC Pension Plan is mandatory for full-time faculty members.
Basic Life Insurance
This benefit provides insurance with value ranging from four times the faculty member's annual salary for those who 34 and under, to two times the annual salary for those who are 46 or older — but with an overall limit of $300,000. It is mandatory for those with full-time, tenure-track appointments of one year or more, and optional for other appointments meeting the eligibility requirements. UBC pays the premium for this benefit.
Optional Life Insurance
In addition to basic life insurance, optional life insurance is available for faculty members and their spouse/partner. A faculty member must be enrolled in Basic Group Life Insurance to be eligible.
Income Replacement Plan
The income replacement plan, which is mandatory on the first of the month following twelve (12) months employment, is intended to provide income to those unable to perform their own or a similar occupation due to illness or injury. Faculty members pay the premium for this benefit, which provides a percentage of monthly salary after a qualifying period of six months. A faculty member must meet the eligibility requirements for coverage.
For the initial six-month period, a faculty member may be on sick leave with full salary, with appropriate university approvals.
Accidental Death and Dismemberment Insurance
Accidental death and dismemberment insurance is available to faculty members and/or their spouses/partners. A faculty member must be enrolled in the Basic Group Life plan and Optional Life Insurance Plan to be eligible. Further information on this benefit is available through UBC Human Resources.
Your pension plan also serves has a life insurance aspect, in that, if you should die prior to your retirement date, your designated beneficiary or beneficiaries will receive the total value of your Plan account. Benefits payable to individuals other than a spouse, dependent child or grandchild must be paid as a lump sum and are subject to taxation.
Employee and Family Assistance
This is a self-referred, confidential counseling advisory and information service for faculty and staff and their families. Enrollment is mandatory for all faculty members who meet the eligibility requirements. UBC and the employee each pay part of the premium, and the employee's cost is minimal.
Faculty members are entitled to leave of absence upon the birth or adoption of a child, and both mothers and fathers may be eligible for certain types of benefits during the leave period. The federal government provides basic benefits, with supplemental benefits provided by UBC.
Tuition fee waivers for UBC credit courses only are available for Faculty Association members and dependent children of Faculty Association members. Members may register for up to 12 credits per year of graduate or undergraduate courses (some conditions apply). Dependent children of faculty members are eligible for tuition waivers for 120 credits (per child) of course work in an undergraduate degree program (some conditions apply).
Applications should be completed in advance for each term. Please note that tuition fee waivers are a taxable benefit and are not transferable to your spouse/partner.
Faculty members also are eligible for other services such as Group RRSP, Group Life Insurance, Property and Accident Insurance. More information is available from the Faculty Association.