FP Canadian Newspapers Limited Partnership (“FPCNLP”) has entered into an agreement to merge its Winnipeg Free Press and Canstar Community News Pension Plan (“WFP/Canstar Pension Plan”) with the CAAT Pension Plan.

As with previous mergers of this type, active defined benefit members of the WFP/Canstar Pension Plan must consent to the merger through a voting process, with unionized members being represented by Unifor Local 191. This voting process will conclude on December 29, 2019.

If the merger proceeds, employees will start contributing to and earning a benefit under the CAAT Pension Plan as of January 1, 2020. The assets of approximately $56 million from the FPCNLP’s existing defined benefit plan will be transferred and benefits will be replicated under the CAAT Pension Plan after approval from the Manitoba Office of the Superintendent and the Financial Services Regulatory Authority of Ontario.