50 facts for 50 years: Happy birthday CAAT Pension Plan! (Facts 26-35)

Posted for Everyone, August 23, 2017

Summer marked the CAAT Plan’s big 5-0. Here are five facts about the Plan’s origins.


The CAAT Pension Plan was established in the summer of 1967. 


In 1967, the Plan had only 20 employers and less than 3,000 members. At the beginning of 2017 the Plan had 38 employers across Ontario, and a total of 44,700 members. This includes 28,400 active members and 16,300 retired and deferred members.


Originally, only full time employees could be members of the Plan, but in 1988 membership was extended to Other than Regular Full-Time (OTRFT) employees after a 24 month waiting period. More recently, in 2014, all OTRFT employees became eligible to join the Plan immediately on hire – eliminating the waiting period. 


At first, the CAAT Plan was only open to colleges as employers. But in 2010, the Plan welcomed its first non-college employers: Ontario Colleges Library Services, College Employer Council and Northern Centre for Advanced Technology. Since then, the Plan continued to grow, including welcoming the Royal Ontario Museum in 2016.


What’s our latest milestone? Our 39th employer to join the plan as of September 2017 is Sheridan Student Union. Welcome to the CAAT Plan, Sheridan Student Union! 

Let’s celebrate yet another way – reflecting on what CAAT Plan members love most about their pension plan. Here are five of the most popular features of the CAAT Plan, according to our 2016 member survey


A lifetime pension. Since the CAAT Pension Plan is a Defined Benefit (DB) pension plan, retired members receive pension payments for life. No matter how long you live, or how the markets are doing long after you retire, you will always receive a monthly pension payment from the CAAT Plan. This provides our members with the security of knowing they’ll never outlive their pension.


Early retirement options. CAAT Plan members enjoy flexible retirement options, giving them lots of possibilities for when they choose to retire. Check out the video “When can I retire?” for a more detailed explanation.


Inflation protection. Inflation protection increases are cumulative, so once added to the lifetime pension, it is a permanent addition to a member’s retirement income. For more information, visit our website.


Survivor benefits. The CAAT Pension Plan includes survivor benefits which provide a lifetime pension for your surviving eligible spouse when you die. For more information, visit our website.


Tax-free contributions. A favourite feature of the CAAT Pension Plan that often gets overlooked is the fact that the contributions you make while you are working are tax-free. They are deducted from your gross income, which reduces your taxable income. Additionally, your employer‘s matching contributions do not count as income either. This factor makes your membership with the CAAT Pension Plan incredibly cost-effective.