As the CAAT Pension Plan is a jointly-sponsored pension plan, employers and members together share responsibility for your retirement security through governance representation. The following changes have recently taken place on the Board of Trustees and the Sponsors’ Committee.
During the course of your membership in the Plan you receive correspondence from us, such as Annual Statements, membership and retirement certificates, and option documents. You may have noticed that some of your documents now contain a six-digit number referred to as your Member ID.
Being a member of the CAAT Pension Plan is an easy and cost-effective way to save for retirement. As a member of the CAAT Pension Plan, you’re already on the road to having a secure pension that is paid for life.
Membership in the CAAT Pension Plan is automatic for regular full-time employees of participating employers upon hire. But what if you’re a part-time or contract employee?
The CAAT Pension Plan has a contingency plan ready in the event of a disruption to Canada Post Service.
Retired members can rest assured that pension payments will continue, as they are made by direct deposit.
Read the Member Newsletter for May 2016
How well do you understand your pension?
The results of the 2015 Member Survey were clear: over 91% of active members rated the value of the pension they will receive as providing excellent, good or reasonably good value for their contributions made.
We are pleased to announce that Donald Wright has accepted the role of Chair of the Board and Beverly Townsend has accepted the role of Vice-Chair, effective April 1, 2016.
Your pension is good value
The CAAT Pension Plan is proud of the progress we have made and the focus we have to ensure your retirement security. By now you may be aware that the Plan is 110% funded (which means that for every dollar promised to you there is $1.10 dedicated to stand behind it), but did you also know that the average retired member can expect to get 800% of their contributions back in pension payments over their lifetime?
How does the average retired member achieve 800%?
Did you know the CAAT Pension Plan has over 27,000 active members working at 39 employers across Ontario? Or that 60% of members retire before 65, something that many never expected to be able to do? These are just a few aspects of the Plan that new members are pleased to learn. Here are the top three that tend to surprise the most.