As a defined benefit plan we need to collect and manage personal information for each of our 43,000 members. We also have made a commitment to our members to protect the security of this information.
The Plan Equity Review Task Force, a specially established subcommittee of the Board of Trustees and Sponsors’ Committee, has recommended two Plan changes, which have been approved by the Plan Governors, and will take effect on July 1, 2016.
You have probably heard about the Ontario Retirement Pension Plan (ORPP) currently being developed by the provincial government. You may be wondering if, when, and how the new plan will impact you.
97% of active members support the merger
(Toronto: January 11, 2016) Members of The Royal Ontario Museum (ROM) pension plan have overwhelmingly chosen to join the Colleges of Applied Arts and Technology (CAAT) Pension Plan.
The merger is the first of its kind to use Ontario’s new regulations permitting the conversion and transfer of assets from a single-employer pension plan in the broader public sector to a jointly governed, multi-employer pension plan. The regulations came into effect November 1, 2015.
The Retired Member Annual Statement you will receive each spring is similar to the Annual Statements you received as an active member. It provides you with details about your pension, inflation protection and beneficiaries. Your Statement also requires action from you, to do your part to keep to keep your pension safe and the Plan secure.
We received a number of questions about Power of Attorney information following the Pension Confirmation process earlier this year. Many of you may have Power of Attorney documents that are not yet in force, or that are for Personal Care, and wonder if the Plan requires these documents each year.
The CAAT Pension Plan’s inflation protection rate for 2016 will be 0.96%. The increase takes effect January 1, 2016.
Over the last few years, the CAAT Plan has been involved in talks with various interested pension plans to discuss their possible merger into the CAAT Plan. As a result of these discussions, the Royal Ontario Museum (ROM) may become the CAAT Plan’s newest participating employer.