The Peace of Mind of Predictable Lifetime Retirement Income

As we reflect on a momentous year, we know that you depend on the consistency of your monthly pension benefits. A reliable source of predictable income provides peace of mind. You can take comfort in knowing your pension is secure and will continue to be paid for the rest of your life.

Our commitment to our members guides CAAT’s growth strategy to become Canada’s workplace retirement solution of choice. Expanding the Plan’s membership makes the Plan even stronger. By diversifying our membership, it further mitigates the risks from economic downturns, ensuring the long-term sustainability of the Plan. Opening the Plan allows more Canadians to enjoy a defined benefit (DB) pension, a rare yet valuable cornerstone of retirement planning today.

This year marked a milestone in CAAT’s history. We surpassed 100,000 members across 500 employers and proudly welcomed many organizations, including the Canadian Cancer Society, Ontario Native Women’s Association, Kids Help Phone, and nearly 3,000 Early Childhood Educators from Nova Scotia. At any stage in their journey to retirement, alleviating the stress of retirement planning for Canadians has a lasting positive impact.

CAAT’s latest innovation, GROWTHplus, offers more flexibility for members who want to save more with CAAT. Members can grow their tax- sheltered savings alongside their pension while benefiting from CAAT’s scale and asset mix.

Pensions are a service built on trust, which we take seriously. This year, CAAT’s annual member survey showed that 95% of retired members trust the Plan and believe the Plan has a sustainable model for delivering secure pension benefits over the long term. We strongly agree and thank you for your trust and confidence.

For both employees and employers, CAAT’s innovations are examples of the value and viability of a modern DB pension plan. Pensions that can deliver the financial stability employees need in a way that employers want are more in demand than ever before.

Your stories can paint a clearer, more colourful picture of the real-world benefits of DB plans. You can take pride in your pension and your Plan, knowing that your pension benefits are secure and in good hands.

Sincerely,
Derek W. Dobson,
Chief Executive Officer and Plan Manager
CAAT Pension Plan

Your GROWTHplus Investment Account questions

GROWTHplus, CAAT’s new optional savings account, launched on October 1. GROWTHplus is a simple way for you to grow your tax-sheltered savings and benefit from CAAT’s investment returns. If you’re interested in learning about GROWTHplus, here are the answers to some top member questions about this new account.

Can I participate in GROWTHplus?

GROWTHplus is exclusively reserved for active, deferred and retired members who have a defined benefit pension with CAAT. As a retired member collecting a CAAT pension, you can participate. You are able to transfer your funds to a GROWTHplus account before the end of the year you turn 70, as long as you are a resident of Canada for income tax purposes.

What if I am 71 or older?

For members who are 71 or older, we expect to be able to accept tax-sheltered deposits (RRSPs, LIRAs and more) in the future. We will provide updates on the full scope of this feature. This option will be introduced with the regular structured withdrawals that must begin the year a member turns 72.

How does the GROWTHplus Investment Account impact my pension?

GROWTHplus is an optional savings account separate from your secure lifetime CAAT defined benefit (DB) pension and does not replace or change your pension in any way. GROWTHplus is different from your DB pension and has different rules and features. You can read all about the features in the GROWTHplus Member Handbook on our website.

Can I transfer in funds from a TFSA or non-tax-sheltered vehicles?

No, GROWTHplus can only accept transfers- in of funds from an existing eligible registered retirement savings vehicle. You can transfer in both locked-in and non-locked in tax-sheltered savings, including registered retirement savings plans (RRSPs), locked-in retirement accounts (LIRAs), and group registered pension plans (RPPs). A full list of vehicles is available on the GROWTHplus webpage on caatpension.ca.

What happens to my GROWTHplus balance when I die?

If you have a GROWTHplus balance when you die, your GROWTHplus balance is paid as a survivor benefit. The survivor benefit is based on the GROWTHplus balance at the beginning of the month the payment is made. Check out the GROWTHplus Member Handbook for more details, including important information on differences between GROWTHplus survivor benefits and your DB pension.

I’m ready to initiate a transfer. How do I get started?

To transfer in your funds, you need to fill out the forms through My Pension and bring them to your financial institution to complete the transfer. CAAT will process your funds once they are received from your financial institution. You can also use CAAT’s paper-based process. Contact CAAT for assistance with the paperwork. For either option, you’ll need to have your social insurance number and account details ready.

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My Pension, your member portal

Have you activated your My Pension account? Your portal is the easiest way to stay in touch with CAAT. Features include:

• See your current pension amount and upcoming payments.
• Update CAAT when you have changes to your mailing address, phone number or email address.
• Adjust the income tax deducted from your monthly pension payment. Discuss this with a tax professional ahead of time.
• Get your T4 online if you’ve selected electronic communications.
• Securely communicate with CAAT through the built-in messaging system.

Activate your account today! You’ll need your Member ID, SIN and birthdate to get started. Visit caatpension.ca/signin to sign up.

Your information security is our priority

We are rolling out multi-factor authentication (MFA) for My Pension that will begin in spring 2025 to enhance the security of your information in CAAT’s pension portal.

Your security is very important as you navigate the digital world, and we take your privacy seriously. This means, starting in the spring, that you will need to set up MFA to access your My Pension account. You may already be familiar with MFA if you access your banking or other secure websites online.

What are your next steps?

First up, write down your Member ID and save it in a secure spot. All you need to do is log into your My Pension account or look at your last annual statement and you’ll see it there. That way, when the new MFA process begins, you’ll be ready. To set up MFA, you’ll need your Member ID, the last 3 digits of your SIN number and birthdate.

We will also be sending out your Member IDs in the spring. But if you’d like to get a head start, then all you need to do now is write down your Member ID and store it in a secure place.

Stay tuned for more information on our website or by mail.

Stay connected with CAAT

Don’t forget to update us when any of your contact information changes, including your home and email address or phone number.

You can reach us:

Toll free: 1-866-350-2228
Local calls: 416-673-9000
Email: member@caatpension.ca
Secure messaging: through My Pension, your member portal