In this edition
CAAT’s podcast showcases long-term success for Canada
The new podcast shines light on organizations that are taking meaningful actions today to secure a better and brighter future for Canada.
Discover details about the podcast
Updates and reminders
Member Newsletter coming in October
Look for the Fall member newsletter by email in October. In this issue, members will learn about how CAAT continues to blend innovative solutions with pension security.
If you would like to take advantage of the direct-to-member communications service that CAAT provides, please contact your PA.
Start using new account information for EFTs by October 1
Read this if: you currently remit contributions using EFT or would like to start using EFT
Please make sure to use our new bank account when you remit your monthly contributions electronically by October 1.
For more information, refer to the email we sent you on June 16, 2021.
If you need confirmation of the EFT information, or have any questions, please contact your Employer PA or finance@caatpension.ca.
Annual termination project – status update
Read this if: you are an employer in the Ontario college sector
The annual termination project identifies members who did not contribute to the Plan in the last reporting year. These members are reported as non-contributory (NC).
NC members will either receive a Termination Package or Retirement Package from the Plan based on their age and when their EOM period is ending.
We have completed 100% of the reviews for the project and have finalized 1,040 calculations.
We have also begun working on phase two of the annual termination project which includes any NC members reported to CAAT after the DCT submission. These will be completed by the end of September.
Portal updates
Encourage your members to register for My Pension
Read this if: you are an employer in the Ontario college sector
We have received multiple requests from employers asking for tools they can use to help remind members to register for My Pension. Later this week, you will receive a sample email template you can use to remind your members to register for the new portal. Please send out this email reminder by the end of September.
A valuable self-service tool, My Pension streamlines processes and makes interactions between members and the CAAT Pension Plan more efficient. By encouraging your members to sign up, you help them make the most of the Plan experience.
My Pension update: pensionable vacation pay option on pension estimates
Read this if: your DBprime members have access to My Pension
On the My Pension estimator, DBprime members can now enter their unused vacation payout amount from their current benefit year to see how it could impact their pension. This feature will allow members to compare retirement scenarios and decide if they want to include their eligible unused vacation in their pensionable earnings.
In the past, this feature was only available with full-service estimates provided by CAAT staff.
Note: You may receive inquiries from members about their unused vacation amount to support their use of the self-service pension estimator on My Pension.
PAL update: intent to enrol and secure message centre pilot projects
Read this if: you have access to PAL
We have been in the process of piloting two new enhancements to PAL. Thank you to the employers participating in the pilot projects. Your feedback will help us provide the best portal experience to all users.
Now available: Intent to enrol
In August and September, we tested the new intent to enrol process with a small group of employers. We collected feedback from pilot participants to ensure the process is a valuable feature to all portal users when enrolling new members into CAAT. This feature is now available.
- The new feature allows employees who have the option to enrol in the Plan, such as part-time and contract employees, to initiate the enrolment process on their own using an online form.
- When the employee completes the form, it will be submitted automatically to you through PAL.
- To learn more about the process, keep an eye out for an email from CAAT early next week that will provide a link to a training video.
Pilot project: Secure message centre
You will soon be able to use PAL for more of your pension administration needs, including securely contacting the Plan. This month, we have been testing the new secure message centre functionality on PAL with a group of pilot employers.
- Rather than using other tools like email or S-Doc, you will be able to use the message centre to contact your PA and securely send files all through PAL.
- We aim to have this feature available to all PAL users in Q4.
Thank you for providing feedback on your experience using PAL. The portal is constantly evolving to meet your needs.
Member presentations are filling up for Fall!
We're seeing a lot of interest from employers booking presentations for Fall 2021. We offer webinars on the following topics: Plan Overview, Pension Purchases and Retirement Planning.
Our schedule fills up quickly, so submit your requests early! Member education sessions are a free service offered by the CAAT Plan. They provide members with valuable knowledge that helps them understand and appreciate their pension.
If you would like to book one or more member education sessions this Fall, please reach out to us at presentations@caatpension.ca.
The Fall Webinar Series is back for 2021!
Starting in mid-October, members will have the opportunity to attend a webinar to learn more about their pension at a time that works for them.
If you are not planning to book a Fall member education session, you can always encourage your employees to register for a CAAT webinar by visiting the Attend a member presentation page. More information will be provided to members in the upcoming member newsletter.
Upcoming events
Block your calendar for the upcoming events:
- October 7 – Employer Education Session: Pension Purchases
- November 4 – Employer Education Session: Pensionable Earnings, Contributions and Pension Adjustments
You will receive an invitation for any webinars approximately two weeks in advance.