CAAT Pension Plan Announces Strong Funding Status and Assets Under Management

The Plan saw significant growth in membership and participating employers across Canada in 2023

Toronto, March 28, 2024 – CAAT Pension Plan ("the Plan"), one of Canada's fastest-growing defined benefit (DB) pension plans, is pleased to announce its strong funded position of 124% as of January 1, 2024, on a going-concern basis, with a funding reserve of $5.3 billion.

In 2023, the Plan saw significant growth, welcoming nearly 80 new employers and over 11,000 new members. CAAT now supports more than 370 participating employers (up 27% from 2022) in 20 different sectors, and over 94,500 members. CAAT closed the 2023 fiscal year with a market value of assets of $20.1 billion.

"We continue to work hard to ensure we can provide secure pensions to our members while we look for opportunities to expand retirement income security to more Canadians," said Derek W. Dobson, CEO and Plan Manager, CAAT Pension Plan. "Our prudent financial management and robust investment strategy have resulted in a significant increase in the value of our assets and reserve fund, further strengthening our pension promise."

CAAT's successful management and investment strategy allows the Plan to continue to offer its conditional inflation protection enhancements to at least 2027, in accordance with the Plan's Funding Policy. CAAT has granted conditional inflation protection enhancements since its introduction in 2007.

A profit-for-members model delivering more value

Sound investment decisions and prudent funding management allow CAAT to implement changes to its modern DB plan designs, DBprime and DBplus. As announced last year, effective January 1, 2025, participating members and employers under DBprime will receive a decrease in contribution rates, while DBplus members will receive an increase in the annual pension factor on future contributions. As a result, DBprime members will build the same valuable pension with lower contribution rates, and DBplus members will grow their pension faster while contribution rates remain the same.

The Plan’s 2023 investment results will be released with its annual report on April 15, 2024.

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 370 participating employers in 20 industries including the for-profit, non-profit, and broader public sectors. It currently has more than 94,000 active and retired members. The CAAT Plan is respected for its pension and investment management expertise and focus on stability and benefit security. On January 1, 2024, the Plan was 124% funded on a going-concern basis.

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CAAT Pension Plan