Read an extract from the 2017 Annual Report Message from the Chair and Vice Chair of the Board:
The Plan’s governors continually seek feedback from members and employers. Opinion surveys of members who work part-time have pointed to concerns about certain features they can’t easily access, and employers are seeking a reduction in administrative complexity for this group.
As a result, we established a task force to explore creating a second plan design better suited to the needs of members who work part-time while reducing the administrative cost and complexity for employers. We are focused on ensuring the second plan design delivers value similar to our current plan design and is flexible to meet the needs of prospective employers and employees beyond the Ontario College sector.
The second pension design will operate alongside the existing plan design and together the two designs will make up the CAAT Plan. The second plan design is in the final stages of development and will be available this year. Similar to the current design, the second plan design will provide a secure lifetime pension, survivor benefits, inflation protection, and early retirement provisions.
To read the complete message from the Chair and Vice Chair of the Board, download the 2017 Annual Report.