Plan funded status sits at 118% with funding reserves of $2.9 billion
Toronto, March 10, 2020 – The CAAT Pension Plan stands 118% funded on a going-concern basis, with $2.9 billion in funding reserves, based on its latest actuarial valuation as of January 1, 2020.
CAAT rings in 2020 by welcoming new employers
The Plan adds its first Manitoba employer, and expands its list of non-profit employers
The CAAT Pension Plan continues to diversify its membership and extend its reach across Canada. On January 1, 2020, CAAT welcomed three more employers to the growing list of members in the DBplus plan design.
Benefit security is the CAAT Plan’s main priority and a key area of focus for the Plan’s governors. Building reserves and diversifying Plan membership are some of the ways the Plan manages risk to stay strong and relevant for current and future members. The introduction of DBplus is one way CAAT is evolving to meet the needs of a changing workforce.
As part of the ongoing initiative to provide more working Canadians with defined benefit pensions in retirement, CAAT has recently welcomed new members from across the country. Provincial pension legislation defines minimum pension standards that may apply to individual
Our annual surveys of retired and active members finished in September and the findings are steady and strong. Nearly 2,900 retired members and more than 3,100 active members responded, up slightly from last year. Thank you to all who took part.
96% see the value of their pension
Asked to rate the value they are receiving from their pension, compared to the contributions they or their spouse made to the Plan while working, 96% of retired member respondents said the value is excellent (37%), good (43%) or reasonably good (16%).
Joint governance is a key strength of the Plan. It ensures employees and employers have an equal voice in the Plan’s decisions through their representatives on the Board of Trustees and the Sponsors’ Committee. Joint governance also balances different perspectives and interests, promotes collegiality, and ensures there is a collective focus on the Plan’s long-term security.
Spotlight on the Chair and Vice-Chair of the Board of Trustees
On April 1, 2019, the Chair and Vice-Chair assumed their new roles.
It’s important for the CAAT Pension Plan to stay up-to-date with any changes to your personal information, such as a change in residence, marital status, or bank account.
If you have any changes to report, use the Retired Member or Surviving Spouse Change Request form, and return the completed and signed form to the CAAT Pension Plan.
As part of the ongoing initiative to provide more working Canadians with defined benefit pensions in retirement, CAAT has recently welcomed a number of new members from across the country.
The CAAT Pension Plan is honoured to be selected as one of Waterstone Human Capital’s “Most Admired Corporate Cultures” for 2019.
This annual honour roll acknowledges “best-in-class Canadian organizations for fostering cultures that enhance performance and help sustain a competitive advantage.”
Did you know that your pension grows in retirement, as it receives inflation protection increases? And if you die, your spouse receives a pension, paid to them for the rest of their life?