2015 marks the CAAT Pension Plan’s 20th year as a Jointly-Sponsored Pension Plan (JSPP). We’ve come a long way since 1995, when the Plan implemented the governance standard in which members and employers equally share responsibility. Today we are considered a model JSPP.
If you missed our February 18 webinar on university pension plan mergers, or would like to catch it again, you can now watch the webinar recording on our website.
T4A slips were mailed on February 6th. If you have not received your T4A, please contact CIBC Mellon directly at 1.800.565.0479 (Toll-free). They will issue duplicates starting Monday, March 2nd.
The Province is continuing to develop the Ontario Retirement Pension Plan (ORPP), and the Plan continues to monitor and report on these developments.
In the early days of the CAAT Pension Plan, inflation protection applied to pensions on an ‘ad hoc’ basis. It was not a formal provision of the Plan, but granted from time to time as Plan funding would allow.
As 2014 draws to a close, we would like to keep you up to date on what to expect from the Plan in 2015.
Starting on January 1, 2015, the inflation protection increase for service earned during and after 1992 is 1.29%.
The CAAT Pension Plan’s proposal to allow interested Ontario university pension plans to merge will result in a name change. The CAAT Plan will become the Ontario Colleges & Universities Pension Plan. The OCU Pension Plan will retain its effective jointly-sponsored structure, but with the governance boards expanded to accommodate additional appointments. What changes can members expect to the governance structure?