Big news! Plan changes coming in 2025
When the CAAT Plan does better, members do better too. What do we mean by that? When the Plan is strong and secure, Plan Governors can make decisions to increase value for members.
That’s exactly what we’re doing. CAAT announced as of January 1 this year that it remains in a strong position at 124% funded and has moved into Level 5 of the Funding Policy. This means that the CAAT Plan is stable and secure, due to its prudent, long-term approach to managing funding. As a result, the Plan Governors approved valuable changes to both DBprime and DBplus, beginning January 1, 2025. Also, conditional benefits such as inflation protection increases have been granted through to 2026.
What are the Plan changes?
DBprime members – your pension will cost you less
Your DBprime contribution rate will go down by 1% starting January 1, 2025. You build the same great pension, but with lower contributions.
Starting in 2025, you will contribute 10.2% on your earnings below the Year’s Maximum Pensionable Earnings (YMPE) and 13.8% on your earnings above the YMPE. This decrease will apply to both member and employer contributions.
DBplus members – your pension will grow faster
Your DBplus pension formula includes an annual pension factor used to calculate your pension. For the pension you earn after January 1, 2025, the annual pension factor will be 9.5% of member and employer contributions (an increase from the current rate of 8.5%). This means your pension grows over 10% faster, while your contributions stay the same!
How do Plan Governors make these decisions?
The Plan’s Governors think carefully about every decision they make to keep the Plan – and your pension – secure for the long term. They use the valuations and the Funding Policy to make decisions in your best interest. Ultimately, these Plan changes mean that your Plan is strong and your pension is secure.
Learn more about Plan changes
Check out the Pensions for Everyone Conference Hub
CAAT Pension Plan held its inaugural virtual Pensions for Everyone Conference on Thursday, May 11, with more than 2,100 total registrants including members, employers and partners. The conference kicked off with a presentation from Michael Dawson, Chief Financial Officer, and Asif Haque, Chief Investments Officer, who provided an update on the Plan's 2022 performance, employer and member growth and what they expect in 2023.
Our team of pension experts held breakout educational sessions—including one for active and retired members — highlighting why a defined benefit (DB) pension is a Big Deal, including:
- How to use our online tools to help decide the right time to retire
- Significant Plan changes that will see members get more bang for their retirement buck starting in 2025
- How CAAT helps with rising prices by using inflation protection increases
- How members can maximize contributions to offset leaves or long absences at work
Conference participants joined Derek Dobson, Chief Executive Officer and Plan Manager, for a fireside chat to learn more about CAAT’s plans to help make a DB pension accessible to more Canadians.
Did you miss the Pensions for Everyone Conference? Visit our website to access all the information and videos.
2022 Year in Review
Explore our 2022 Digital Year in Review to learn how we’ve got you covered with a powerhouse pension that helps you invest in your future self.
See our Year in Review
Just launched: What’s your Pensionality?
Find out how your pension is working for you by taking CAAT’s new Pensionality quiz! Your Pensionality is all about how your pension intersects with the current stage in your life. At every milestone, CAAT is working behind the scenes to grow, invest, and secure your retirement income. Your pension is so much more than just a balance – and the Pensionality quiz will prove it!
Take our short, easy quiz to discover your Pensionality.
Want to learn more? Check out this post on CAAT’s member blog, Planner. You’ll see how the different Pensionality profiles are designed to help you learn more about pensions at your own pace and in your own time.
Try the Pensionality quiz
Must read: CAAT’s member blog, Planner
Pensions can be complicated – we want to make them simple! It's one of the reasons why we created CAAT's member blog, Planner. Planner gives you access to materials to help you understand your total financial wellness in addition to your pension.
This corner of our website is just for you, with various articles tailored to help you achieve your financial goals. From helpful and practical financial tips to informative reads on financial wellness, Planner covers many insightful topics to help you stay informed and in control of your finances.
Get started and check out our most recent blog post, "Four tips to help you stay on track with your financial goals." New content is published monthly, so bookmark this page and check back for new and exciting topics!
Read the blog
Ready to learn? Join us in June for our new series
It’s time to sign up for our June learning session, “A future you can count on: Your CAAT Pension.” This virtual session is free to all members. You’ll learn all about the benefits of your CAAT Pension in this overview.
Our June session is perfect for members who are new to the Plan, or members who are looking for a refresher on the key aspects of their pension. If you’re ready to learn all about why your pension is a big deal, join us.
Registration is open for June, July and August. Pick the time and date that works for your schedule.
Register now
Latest Contributors Podcast tells inspirational story
In the latest Contributors podcast, host Russell Evans speaks with Dell Technologies' Global Channel Chief Rola Dagher to hear about her journey from immigrant to inspirational leader.
CAAT’s Contributors podcast focuses on how organizations and leaders are going beyond the bottom line and envisioning a brighter future for Canada. We’re on a mission of improving retirement income security for Canada – and committed to making meaningful change for a better future for all of us.
Our award-winning podcast helps us increase awareness of the CAAT Plan to different industries, sectors, and organizations across Canada. Ultimately, this can help us increase membership of the Plan.
Adding more members is good for everyone – it expands pension coverage to more Canadians, makes the Plan and pensions even more secure, and provides easy access to a valuable retirement benefit to more workplaces.
Listen to Contributors
Member Survey coming in June
At CAAT, your feedback matters. Every summer we get in touch to see and hear what you think. You will find the annual member survey link in your inbox in June.
Your thoughts and opinions help shape our services to provide our members with a secure financial future in a meaningful way. From the 2022 Annual Member Survey, we learned that 58% of members turn to our website to learn more about their pension. Based on this, we have built more resources on our site, like CAAT’s member blog, Planner.
We look forward to hearing from you!
Join now as a Plan Ambassador
Your pension is a big deal! And so is being a Plan Ambassador. When you join, you’re helping us spread awareness of the positive impact defined benefit pensions have on society, and the fact that more Canadians should have access to them.
Joining is easy – all you need to do is sign up here. As a Plan Ambassador, you’ll receive pension information and resources directly to your inbox showing how CAAT is expanding pension coverage across the country and how that’s good for you, for your family, and for your community. See the latest in economic research, learn about broader Canadian retirement trends, and enjoy messages from CAAT’s CEO, and more! You’ll even get a Plan Ambassador t-shirt to wear with pride and spread the word that pensions are for everyone!
Sign up