CAAT is evolving to meet the needs of a changing workforce. Since its launch in 2018, DBplus has attracted several new employers with its innovative offering, which includes 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.
Welcoming other organizations into the CAAT Plan benefits all stakeholders. Growing and diversifying the membership makes the Plan stronger and more secure through improved pooling of risk and efficiencies. Any merger must meet the CAAT Pension Plan’s guiding principle that it is in the best interest of the Plan.
We’re pleased to share news about the following organizations:
University of Saskatchewan newest employer to join the CAAT Plan
Members of the University of Saskatchewan and Federated Colleges Non Academic Pension Plan joined CAAT on a go-forward basis effective September 1, 2019, under the DBplus design.
Community Living Toronto votes to join the Plan
Active members of the Community Living Toronto pension plans consented to a merger into the CAAT Plan. This 90-day voting process concluded on September 30, 2019. Employees will begin contributing to and earning benefits 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 will be transferred and benefits will be replicated under the CAAT Pension Plan after approval from the Financial Services Regulatory Authority of Ontario.
This summer, CAAT welcomed Postmedia, Canadian Press (CP) and London Cross Cultural Learner Centre (CCLC)
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 July 1, 2019.
Learn more about why growing the CAAT Plan benefits all.