In a word, no!
The merger of interested Ontario university pension plans with the CAAT Pension Plan will result in significant transfers of assets and liabilities. The Plan is focused on ensuring that these transfers are fair to all concerned.
The CAAT Pension Plan’s proposal to allow interested Ontario University pension plans to merge with the CAAT Pension Plan will not affect the benefits you have earned, or the benefits you will earn in the future.
It was the CAAT Pension Plan that proposed the idea of mergers with interested university pension plans. Why do Plan governors see this as a good idea?
We want to know what you think about the Plan and how it is managed.
Beginning September 12, our 2014 Survey of Retired Members will be open on our website.
Last year the CAAT Plan paid pensions to more than 13,000 retired members and survivors. To make sure pension payments continue to be accurately delivered, we issue confirmation letters to a subset of our retired member population each year. Your responses to the confirmation letters help us keep our records up to date and your pension payments on track.
In our previous newsletter, we announced the launch of the Lead the Conversation video series. If you aren’t a My Pension NewsLink subscriber or haven’t yet seen the videos, be sure to watch this series of 5 short clips. In them, Derek Dobson, Plan Manager and CEO, provides commentary on what it takes to have a sustainable, well-run pension plan.
Throughout 2013, the CAAT Pension Plan has been in discussions with several Ontario university pension plans examining the possibility of merging with the CAAT Plan.
The July Provincial budget included legislation that will enable the conversion of university and other single employer pension plans (SEPPs) to new or existing Jointly Sponsored Pension Plans (JSPPs) like the CAAT Plan. Subject to pending regulations, this would put us another step closer to facilitating asset transfers from universities into the CAAT Pension Plan.
Ted Brock was no stranger to transition. He began his seven-year career in the military in WWII at age 17, and then joined the Toronto police force immediately on return from Europe. In 1967, after 21 years of police service, Brock was settling into “a lovely day job” in charge of the detectives at the famous 14 Division – complete with “a reserved parking place – under a roof!”
Your September Retired Member Newsletter is now online.