Growing Plan membership

As a Modern DB (Defined Benefit) pension plan, the CAAT Pension Plan is open to discussions with interested organizations (including those outside of Ontario's post-secondary education sector) about the possibility of joining the Plan. The CAAT Plan provides a proven solution for organizations that want to offer a cost-effective and sustainable pension to their employees.

Various organizations both in and outside the public sector have already joined the CAAT Plan, and now offer secure lifetime pensions to their employees. Even organizations that do not currently offer a pension plan, or that offer DC or RRSP arrangements, can take advantage of the opportunity to offer a cost-effective, sustainable pension solution to employees through the CAAT Pension Plan.

If you're an existing member of the CAAT Plan, read why growing the CAAT Plan benefits all.

Are you an employer, a representative of a member group, or an employee of an organization interested in joining the Plan’s DBplus design?

Visit www.dbplus.ca for resources that will help you decide if DBplus is right for your organization. You'll also find the DBplus Value Tool, which lets prospective members estimate the lifetime retirement income they can earn in DBplus


Latest news

United Way of Greater Toronto votes to join the Plan

Toronto, November 14, 2019 - Employees from United Way of Greater Toronto have voted overwhelmingly 99% in favour of joining the CAAT Pension Plan. Members of the Retirement Plan for Employees of United Way of Greater Toronto participated in the 90-day consent process, with unionized members represented by their local COPE 343. The consent period concluded on November 12th. Employees will start contributing to and earning a benefit under the CAAT Pension Plan’s DBplus plan design as of January 1, 2020. The assets of approximately $25 million from United Way of Greater Toronto’s existing defined benefit plan will be transferred and benefits will be replicated under the CAAT Pension Plan pending approval from the Financial Services Regulatory Authority of Ontario.


The Financial Services Regulatory Authority of Ontario issues Notices of Intended Decision for the merger of the defined benefit Torstar Pension Plans into the CAAT Pension Plan

Toronto, October 25, 2019 - The merger of the eight Torstar defined benefit pension plans (the “Torstar Plans”) into the CAAT Pension Plan is in its final stages. The Financial Services Regulatory Authority of Ontario (FSRA) has issued Notices of Intended Decision for the merger of the Torstar plans into the CAAT Pension Plan. By issuing these notices, the Chief Executive Officer (CEO) of FSRA has indicated an intention to consent to the pension plan mergers following a standard 30-day period to facilitate any applicable requests to the Financial Services Tribunal.

After this 30-day waiting period, and once the final consent is obtained from the CEO of FSRA, the final steps of the merger can be completed. It is anticipated that the transfer of assets from the Torstar plans to the CAAT Pension Plan will be completed by the end of 2019, at which point the Torstar Plans will be fully merged into the CAAT Pension Plan.

Once the assets have transferred, Torstar Plan members can expect to receive a communication notifying them that the merger has been completed. If you have any questions, please email info@dbplus.ca.

Copies of the Notices of Intended Decision are below.

Toronto Star Pension Plan

Torstar Pension Plan

Pension Plan for Employees of Metroland West Media Group

Metroland Employees' Retirement Savings Plan

Metroland Pension Plan for Senior Management Employees

Metroland Pension Plan

Retirement Plan for Employees of Metroland

The Pension Plan for Employees of the Guelph Mercury and the Cambridge Reporter, Divisions of the Metroland Media Group, Ltd.


CAAT adds two to growing list of participating employers

The award-winning DBplus defined benefit plan design continues to appeal across sectors

Toronto, October 3, 2019 – CAAT continues to grow and diversify its membership, adding two new organizations to its growing roster of participating employers.

As part of their new collective agreement, workers from the University of Saskatchewan and Federated Colleges Non-Academic Pension Plan, represented by CUPE 1975, joined DBplus on a go-forward basis effective September 1. As well, employees from Community Living Toronto joined the CAAT plan effective October 1st. Pending regulatory approval, Community Living Toronto will merge their prior defined benefit pension plan liabilities and assets into CAAT. Members of the Community Living Toronto pension plans consented to the merger, voting an overwhelming 93% in favour, with unionized members represented by their local CUPE 2191. The consent period concluded on September 30.

These two new employers add over 2,000 new members to DBplus – 700 from Community Living Toronto and 1,300 from the University of Saskatchewan. Members will pay into the DBplus plan at fixed contribution rates, with their respective employers matching dollar for dollar.

In the coming months, an application will be made to the Financial Services Regulatory Authority of Ontario (FSRA) for its consent to the transfer of plan assets and liabilities from Community Living Toronto’s plans.

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The CAAT Pension Plan is open for growth in membership where it is mutually beneficial, from the public, private or not-for-profit sectors in Canada. This includes workplaces currently offering defined benefit pension plans, defined contribution plans, group RRSPs, and those with no current workplace retirement savings plan.

“I am grateful that our newest members from the University of Saskatchewan and Community Living Toronto have endorsed our DBplus plan. This innovative pension design provides secure, predictable retirement income for life at a fixed contribution rate – meeting essential needs and eliminating key risks for both employees and employers”

Derek Dobson,
Chief Executive Officer and Plan Manager, CAAT Pension Plan

“The CAAT DBplus plan has proved to be a timely solution to the long-term financial sustainability challenge we were facing with our non-academic defined benefit pension plan. DBplus ‘ticked all the boxes’ for us as an employer in terms of cost certainty for our institution while providing our employees with a competitive pension plan. The team at CAAT has been there every step of the way through the implementation process and we are looking forward to working with them for years to come.”

Cheryl Carver
Associate Vice President, People and Resources, University of Saskatchewan

“We are so pleased to be joining the CAAT DBplus plan.  This will allow us to provide a sustainable, predictable retirement benefit for our employees and reduce the significant effort associated with providing our own plan.”

Brad Saunders
Chief Executive Officer, Community Living Toronto


Catholic Charities of the Archdiocese of Toronto and Participating Member Agencies voting to join the Plan

Catholic Charities of the Archdiocese of Toronto and Participating Member Agencies (“CCAT”) have entered into an agreement to merge their pension plan with the CAAT Pension Plan. As with previous mergers of this type, active members of the CCAT pension plan must consent to the merger through a voting process, with unionized members being represented by their local OPSEU 594  This voting process will conclude on December 29, 2019. If the merger proceeds, employees will start contributing to and earning a benefit under the CAAT Pension Plan as of January 1, 2020. The assets of approximately $35 million from CCAT’s existing defined benefit plan will be transferred and benefits will be replicated under the CAAT Pension Plan after approval from the Financial Services Regulatory Authority of Ontario.


FP Canadian Newspapers Limited Partnership voting to join the Plan

FP Canadian Newspapers Limited Partnership (“FPCNLP”) has entered into an agreement to merge its Winnipeg Free Press and Canstar Community News Pension Plan (“WFP/Canstar Pension Plan”) with the CAAT Pension Plan. As with previous mergers of this type, active defined benefit members of the WFP/Canstar Pension Plan must consent to the merger through a voting process, with unionized members being represented by Unifor Local 191. This voting process will conclude on December 29, 2019. If the merger proceeds, employees will start contributing to and earning a benefit under the CAAT Pension Plan as of January 1, 2020. The assets of approximately $56 million from the FPCNLP’s existing defined benefit plan will be transferred and benefits will be replicated under the CAAT Pension Plan after approval from the Manitoba Office of the Superintendent and the Financial Services Regulatory Authority of Ontario.


United Way of Greater Toronto voting to join the Plan

August 14, 2019 - United Way of Greater Toronto has entered into an agreement to merge its pension plan with the CAAT Pension Plan. As with previous mergers of this type, active members of the United Way of Greater Toronto pension plan must consent to the merger through a voting process, with unionized members being represented by their local COPE Ontario (Local 343). This voting process will conclude on November 12, 2019. If the merger proceeds, employees will start contributing to and earning a benefit under the CAAT Pension Plan as of January 1, 2020. The assets of approximately $25 million from United Way’s existing defined benefit plan will be transferred and benefits will be replicated under the CAAT Pension Plan after approval from the Financial Services Regulatory Authority of Ontario.


Previous news

Community Living Toronto voting to join the Plan

Community Living Toronto has entered into an agreement to merge its pension plans with the CAAT Pension Plan. As with previous mergers of this type, active members of the Community Living Toronto pension plans must consent to the merger through a voting process, with unionized members being represented by their local CUPE 2191. This process concludes on September 30, 2019. If the merger proceeds, employees will start contributing to and earning a benefit under the CAAT Pension Plan as of October 1, 2019. The assets of approximately $100 million from the Community Living Toronto’s existing defined benefit plans would be transferred and benefits will be replicated under the CAAT Pension Plan after approval from the Financial Services Regulatory Authority of Ontario.

CAAT Welcomes Employees from Three New Participating Employers

Postmedia, London Cross Cultural Learning Centre, and The Canadian Press join CAAT’s award-winning DBplus design on July 1st

CAAT continues to grow and diversify its membership with the addition of three organizations — Postmedia Network Inc. (“Postmedia”), London Cross Cultural Learning Centre (“CCLC”), and The Canadian Press (“CP”). Along with their employees, they become the newest organizations to join CAAT’s new DBplus plan design, providing desirable defined benefits at fixed contribution rates for both employees and employers.

Postmedia and CP will also merge their prior defined benefit pension plan liabilities and assets into CAAT after securing overwhelming member support. Under the voting process, 99% of Postmedia pension plan members and 100% of CP pension plan members were in favour of a merger with CAAT. Under the terms of each merger, active and retired members will receive pensions based on their respective plan’s provisions for their service accrued before the effective date of the merger, and pensions based on DBplus provisions on contributions made after that date.

Approximately 3,400 employees and pension plan members of Postmedia, 600 CP employees and pension plan members, as well as 90 CCLC employees joined DBplus effective on July 1, 2019.

“I am so pleased that members of Postmedia and The Canadian Press defined benefit plans have voted with such overwhelming support to merge with the CAAT Pension Plan, and together with the CCLC employees, will all benefit from a secure lifetime pension,” says Derek Dobson, CAAT CEO. “DBplus is an attractive pension option that provides sustainable, secure retirement solutions for employers and employees across all sectors.”

Since its launch a year ago, DBplus has attracted seven new employers with its innovative offering, which include guaranteed lifetime retirement income with conditional inflation protection, survivor pension benefits, and early retirement options – with the certainty of a fixed cost for both employees and employers.

In the coming months, applications will be made to the Financial Services Regulatory Authority (FSRA) for its consent to the transfer of assets from Postmedia and CP pension plans.

The CAAT Pension Plan is open for growth in membership where it is mutually beneficial, from the public, private or not-for-profit sectors in Canada. This includes workplaces currently offering defined benefit pension plans, defined contribution plans, group RRSPs, and those with no current workplace retirement savings plan.

Canadian Press Enterprises Inc. voting to join the Plan

Canadian Press Enterprises Inc. (CPE) has entered into an agreement to merge its pension plans with the CAAT Pension Plan under the DBplus design. As with previous mergers of this type, CPE plan members must consent to the merger through a voting process, which concludes on June 28, 2019. If approved, CPE’s two defined benefit plans with assets over $100 million, would merge into the CAAT Plan and the members of CPE’s defined contribution plan would join the Plan as well. The merger would be effective July 1, 2019. 

Postmedia signs agreement with CAAT Pension Plan

(January 30, 2019) The CAAT Pension Plan is pleased to share an update on a prospective merger with Postmedia Network Inc (Postmedia). Over the past number of months, the CAAT Pension Plan has been in exploratory discussions with Postmedia regarding a possible merger with the Postmedia defined benefit pension plans. Recently, Postmedia signed a Memorandum of Agreement with the CAAT Pension Plan to merge its six defined benefit pension plans with assets of approximately $500 million. The agreement is subject to certain conditions including approval from the CAAT Pension Plan’s Board of Trustees and Sponsors’ Committee and consent of Postmedia pension plan members and the Financial Services Commission of Ontario (FSCO) or its successor the Financial Services Regulatory Authority (FSRA).

Due diligence of the merger shows that a merger with the Postmedia pension plans will align with the CAAT Pension Plan’s strategic objectives of ensuring benefit security, contribution rate stability and intergenerational equity for current and future members. Any merger must meet the CAAT Pension Plan’s guiding principles that it is in the best interest of the Plan, and the Plan would not assume any unfunded liabilities of the merging plan.

Over the next number of months the CAAT Pension Plan will participate in information sessions with Postmedia pension plan members. Following these sessions, the regulatory required 90-day consent period will begin.

Torstar pension plans join CAAT Pension Plan - making us stronger

(October 1, 2018) Torstar Corporation and its applicable subsidiaries become the first new employers to join CAAT using the DBplus plan design.

Torstar defined benefit (DB) pension plan members voted 97% in favour to merge with the CAAT Plan, and the merger is effective October 1, 2018.

All members and employers benefit from growing plan membership

Growth in membership helps improve benefit security for all members and accelerates the building of reserves under the Plan’s Funding Policy.

The merger comes after thorough and lengthy due diligence by the CAAT Plan and secures sufficient assets from the Torstar plans to cover all their pension obligations. In the coming months, an application will be made to the Financial Services Commission of Ontario for its consent to transfer the DB pension assets from the Torstar pension plans to the CAAT Plan.

Under the terms of the merger, active and retired members of Torstar’s eight DB pension plans will receive pensions based on the Torstar plan provisions for their service accrued before the effective date of the merger, and pensions based on DBplus provisions on contributions made after that date.

Providing excellent services to current members remains a fundamental part of the CAAT Plan’s commitment to members, who can expect the same level of excellent service standards that employers and members have come to expect from the CAAT Pension Plan. The addition of Torstar brings membership close to 50,000 members.

“The overwhelming support from Torstar and its pension plan members for this merger shows that the DBplus plan design is a viable solution for employers and employees looking for secure and sustainable lifetime pensions at a fixed contribution rate – regardless of whether the organization is public, private, or not-for-profit.”

Derek Dobson, CEO of the CAAT Pension Plan

Torstar and the CAAT Plan enter next phase in merger process

(June 22, 2018) Growing membership in the CAAT Plan benefits all stakeholders: the employer gets the valuable attraction and retention benefits of offering a DB pension plan and is no longer required to manage the risks of their current pension plan; members get access to a valuable, sustainable, and secure DB pension; and, the CAAT Plan further improves in strength for existing members and employers.

As such, the CAAT Plan is open to beneficial mergers that improve the long-term sustainability of the Plan, including employers and members from the nonprofit, private, and broader public sectors.  Our key principle for mergers requires that any past liabilities come with the appropriate assets to maintain or improve our strong funded status.

The CAAT Plan is pleased to share an update on the merger process with Torstar Corporation.  On June 21, the CAAT Plan entered into an agreement to merge Torstar’s eight registered defined benefit pension plans, effective October 1, 2018.

Members of the Torstar pension plans will have 90 days to vote on the merger. Ontario pension regulations require that at least two-thirds of active members consent to the merger, while no more than one-third of retired members vote against it. Final consent of the transfer of assets for past benefits rests with Ontario’s pension regulator.

There are about 3,000 members of the Torstar defined benefit pension plans. If approved, this will be the third merger of a single-employer, defined benefit pension plan with the CAAT Plan. The Youth Services Bureau of Ottawa joined at the beginning of 2018, while the Royal Ontario Museum pension plan merged with the CAAT Plan in 2016.

“We’re excited about the possibility of the merger with the Torstar pension plans,” says Derek W. Dobson, CEO of the CAAT Plan.  “With the signing of the agreement, the approval process is now in the hands of about 3,000 Torstar plan members. Our focus will remain on educating members to ensure they are informed before voting on joining DBplus.”

Torstar businesses include the Toronto Star, Canada’s largest daily newspaper, six regional daily newspapers in Ontario including The Hamilton Spectator; English-language Metro newspapers in several Canadian cities; more than 80 weekly community newspapers in Ontario; flyer distribution services; and digital properties including thestar.com, wheels.ca, save.ca, toronto.com, a number of regional online sites and eyeReturn Marketing.

CAAT Pension Plan in exploratory discussions with Torstar on merging its pension plans

Any pension merger must be mutually beneficial

(February 28, 2018) The CAAT Plan is in exploratory discussions with Torstar and its union representatives regarding a possible merger with the Torstar DB pension plans.

The CAAT Plan was contacted by representatives of Torstar following its successful merger with the Royal Ontario Museum pension plan and its openness to permitting private sector plans to join.

The CAAT Plan, Torstar, and union representatives are working through the details, including regulatory requirements that would be needed to move forward with the potential merger.

Preliminary analysis shows that a merger with the Torstar pension plans has the potential to align with the Plan’s strategic objectives of ensuring benefit security, contribution rate stability and intergenerational equity for current and future members. Any merger must meet the CAAT Plan’s guiding principles that it be in the best interest of the Plan, and the Plan would not assume any unfunded liabilities of the merging plan.