Members > Pamphlets > Transferring Service

Transferring out of the CAAT Plan to an employer outside the College system

Transferring Service

Member Handbook -
Can I transfer in service?
Termination - Reciprocal transfer

If you are leaving the College system to start a job with another employer that has a Canadian registered pension plan, and you have not transferred your Commuted Value to a locked-in RRSP or taken a refund of your contributions, it may be possible for you to transfer your CAAT Plan pension credit to the new plan.

Your new employer may have a reciprocal agreement with the CAAT Plan. These agreements allow employees to transfer their service simply, by defining the cost, the amount of service that will be granted in the new plan, and the time limits.

The CAAT Plan has more than 21 single reciprocal agreements with various employers such as universities, the federal government, and some public sector plans of other provinces. We are also part of a multi-party transfer agreement known as the MOPPs Agreement (for Major Ontario Pension Plans). It includes the larger Ontario public sector plans such as the Hospitals of Ontario Pension Plan, OMERS, OPSEU Pension Trust, and Ontario Teachers' Pension Plan, among others.

If you are starting a new job with an employer that may fall into these categories, you should choose the transfer-out option on the termination option document prepared for you by the CAAT Plan. You need to sign the form and return it to us with any needed supporting documents, including a T2151 tax form, as soon as possible. You can discuss any questions you have with your Human Resources representative. You can also initiate the process by completing the appropriate transfer form from your new pension plan.

Please keep in mind that time limits apply and each reciprocal agreement has its own requirements. The agreement will specify the cost and the amount of service the new plan will recognize, and it may be that additional contributions will be needed to give you equivalent service to what you had in the CAAT Plan. In this case, you may be offered the choice of buying the additional service.

If the CAAT Plan does not have a reciprocal agreement with your new employer, a transfer may still be possible. Since this type of transfer is permitted under Ontario's Pension Benefits Act, the Plan refers to it as a "PBA transfer". In this case, subject to the approval of your new employer, you may be able to transfer the Commuted Value of your pension from the CAAT Plan directly to your new employer's plan. Your new employer will determine the amount of pensionable service that the transferred amount represents, which will be the same or less than the pensionable service you had built up in the CAAT Plan. This type of transfer is only possible if you are entitled to a deferred pension, and not if you already transferred your entitlement to a locked-in RRSP.

October 2004