In this new video series, Derek Dobson, CAAT Pension Plan CEO and Plan Manager, explains how the CAAT Plan stays strong, sustainable, and relevant to members. Get started with the first video in the series to learn about the hallmarks of a Modern Defined Benefit (DB) Pension Plan.
The Modern Defined Benefit (DB) pension plan video series
In this new video series, CAAT Pension Plan CEO and Plan Manager, Derek Dobson, explains how Modern Defined Benefit (DB) pension plans provide secure retirement income for members. As a Modern DB pension plan, the CAAT Pension Plan is expertly managed to secure the promised pensions and maintain stable contribution rates that are appropriate for the benefits earned. Derek shares how the Plan helps reduce retirement planning stress – through a range of Plan features that meet various member needs.
These mini-videos are also packed with the facts you need to be a Pension Champion. Modern DB pension plans, like the CAAT Plan, are good for all Canadians. Share your favourite video to spread the word, or like them on our YouTube page.
You can also visit our new Pension Champion site to learn more about Modern DB pension plans.
Part 1: An introduction to Modern DB pension plans
Part 1 of our video series lays out the key elements and plan design features that make Modern DB pension plans capable of providing secure and adequate lifetime income for its members. Derek confronts misleading news stories about the security of DB pension plans, and explains why and how the CAAT Plan model is sustainable over the long term.
- The basics: The funding policy and joint governance – two of the hallmarks of a Modern DB pension plan – ensure that the CAAT Plan will stay strong when challenges arise.
- Our focus is pensions: Modern DB pension plans are different from single-employer pension plans. With almost 40 participating employers, the CAAT Plan is a not-for-profit trust with only one mission: making sure we pay the promised pension for as long as members live.
- Keeping the Plan healthy: Derek challenges the notion that DB pension plans are too expensive. The truth is, retirement itself is expensive, and DB pension plans like the CAAT Plan are the most efficient and effective way for members to get secure lifetime income in retirement.
- Governance: The Board of Trustees and Sponsors’ Committee are all aligned with making shared decisions in the best interest of the Plan and its members.
- Keeping the pension secure: The top priority for the CAAT Plan is ensuring the long-term security of your pension.
- Strongly independent: The CAAT Plan is independent from the needs of individual employers and collective bargaining. In fact, members and employers are jointly responsible for managing the security and sustainability of the CAAT Plan.
Part 2: Modern DB pension plans are relevant
Part 2 of our video series explores the research that shows what Canadians, and CAAT Plan members, want from a pension plan and what they value in retirement. Derek discusses how the CAAT Plan, as a Modern DB pension plan, meets these needs, and reduces the stress of planning for retirement.
- Modern DB pension plans reduce stress: Research shows that members who belong to a secure, multi-employer DB pension plan have lower stress overall than those with different retirement plans.
- Retirement features Canadians want: We learned from research with our peer plans across Canada that Canadians value secure, predictable retirement income, and are willing to contribute for these and other valuable features.
- Secure pensions members want: The CAAT Plan is focused on offering what pension plan members want: predictable, secure, lifetime pensions with early retirement features.