The McGill University Pension Plan, Montreal, hired Sun Life Financial and financial management consulting firm Normandin Beaudry to provide administrative services for the fund, which had C$1.7 billion ($1.3 billion) in assets as of Sept. 30, a spokesman confirmed.
Sun Life in conjunction with Normandin Beaudry are responsible for record keeping and administration of the McGill University Pension Plan, which has both defined benefit and defined contribution components, a spokesman said in an email. The companies replace Morneau Shepell as the fund's record keeper, as of Aug. 31.
McGill University Pension Plan has more than C$260 million in defined benefit assets, according to the spokesman, and covers participants who joined before Dec. 31, 2008, the fund's website said.
MUPP, which has about 10,000 members, is the largest pension plan for which Sun Life provides administrative services in Quebec, according to a news release from Sun Life.