Toronto, January 30, 2023 – Employees of the City of Whitehorse represented by the Yukon Employees’ Union (YEU) Local Y046 and employees of Collège nordique francophone have joined the CAAT Pension Plan to provide lifetime retirement income through DBplus.
DBplus is an innovative workplace retirement solution that provides working Canadians with valuable lifetime pensions, all at a fixed contribution rate that employers can afford. Signature benefits include inflation protection and survivor benefits, provided by CAAT with no fiduciary risks to the employer. With members in every province, the growth of DBplus in Northern communities reflects CAAT’s ongoing commitment to expand access to sustainable pensions.
“As CAAT continues to demonstrate that pensions matter to Canadians from coast to coast to coast, I’m proud to welcome the City of Whitehorse and Collège nordique francophone to the Plan,” said Derek Dobson, CEO and Plan Manager, CAAT Pension Plan. “By partnering with CAAT to provide DBplus, our new employers are strengthening talent retention and securing a better, brighter retirement future for Canada’s dedicated Northern workforce.”
City of Whitehorse and Collège nordique francophone join other notable CAAT participating employers like Brink’s Canada, Sanofi Pasteur, The Conference Board of Canada, Torstar, University of Saskatchewan, Vancouver Foundation, and the Ontario Dental Association.
As of January 1, 2022, the CAAT Pension Plan had $18.2 billion in assets, a year-over-year net rate of return of 15.8%, and an annualized 10-year net rate of return of 11.1%. It is the highest-performing Canadian pension plan by 10-year annualized rate of return, according to the BNY Mellon Canadian Master Trust Universe.
QUOTES
City of Whitehorse
“DBplus turned out to be a great solution for both the City of Whitehorse and our employees. It gives our staff the benefit of a defined benefit pension without the additional costs and risks that would come with managing our own pension plan,” said Laura Cabott, Mayor of the City of Whitehorse. “We’re pleased that we can help our employees build their future retirement income.”
“We are pleased that Local Y046 City of Whitehorse workers now have access to a defined benefit pension plan, helping ensure a retirement with dignity after a career of service. We encourage other Yukon municipalities to take the lead and work with CAAT to protect the future of their workers,” said Steve Geick, President of Yukon Employees’ Union.
“PSAC North congratulates the workers of the City of Whitehorse for their forethought and efforts to secure a brighter future in their retirement. By securing an affordable pension, these workers can look forward to stable retirement income and greater peace of mind,” added Lorraine Rousseau, Regional Executive Vice President North of the Public Service Alliance of Canada.
Collège nordique francophone
“Collège nordique francophone is proud to be the first organization in the Northwest Territories to offer DBplus to its staff,” said Patrick Arsenault, Executive Director of Collège nordique francophone. “Our goal is to support our local community. This includes boosting our employees’ financial wellness in retirement by providing them with a reliable pension, paid for life. I am particularly happy to be working with a not-for-profit organization, which will maximize employees’ gains.”
For media inquiries, please contact media@caatpension.ca.
BOILERPLATES
About CAAT Pension Plan:
Established in 1967, the CAAT Pension Plan is an independent, jointly governed plan that offers two highly desirable designs of a defined benefit pension. CAAT's award-winning DBplus plan design is leading an extraordinary pace of growth for the Plan. Originally created to support the Ontario college system, the CAAT Plan now proudly serves more than 280 participating employers in 14 industries including the for-profit, nonprofit, and broader public sectors. It currently has more than 81,000 active and retired members in all provinces. The CAAT Plan is respected for its pension and investment management expertise and focus on stability and benefit security. At January 1, 2022, the Plan was 124% funded on a going-concern basis.
Learn more at: www.caatpension.ca.
About the City of Whitehorse
Established as the Yukon's capital city in 1953, the City of Whitehorse is home to some of the most spectacular scenery, talented artists and innovative businesses in Canada. Situated along the Yukon River on the traditional territory of the Kwanlin Dün First Nation and the Ta’an Kwäch’än Council, over 28,000 call Whitehorse home.
About Collège nordique francophone
Located in Yellowknife, Collège nordique francophone is the only educational institution North of the 60th parallel where students can develop their language and professional skills or pursue post-secondary studies in French – in-person or online. When it was founded in 2011, Collège nordique had a vision: to contribute to the vitality of the francophone community in the North by offering quality education that promotes cultural and linguistic diversity and inclusion.
About the Yukon Employees’ Union (YEU)
A component of the Public Service Alliance of Canada, the Yukon Employees' Union represents almost 6,000 members across the territory, with YEU members working in every Community. Its 25+ negotiated Collective Agreements support workers from all walks of life, from blackjack dealers to geologists, and every occupation in between.
About Public Service Alliance of Canada (PSAC)
The Public Service Alliance of Canada represents nearly 230,000 workers in every province and territory in Canada, and in locations around the world. Its members work for federal government departments and agencies, Crown Corporations, universities, casinos, community services agencies, Aboriginal communities, airports, and the security sector among others.