Joining from no pension plan

If your workplace currently has no retirement savings arrangement for employees:

The process is easy to join and can take as little as a few months

Joining DBplus is a simple way to offer your employees a valuable and secure defined benefit pension, for a fixed contribution rate. Following approval of the employer’s application, employees begin to build valuable lifetime pensions from the day contributions begin.

Here’s what you can expect in the process:

1. Initial contact

At CAAT, we’ll answer your questions about the plan design and guide you on how to join. You only need to consider two options: when to start contributing, and how much you want to pay. If your organization is interested in proceeding to the next step, a non-disclosure agreement is signed, and employee data is supplied to CAAT for preliminary analysis.

2. Due diligence

Both your organization and CAAT will perform due diligence activities, including reviewing and documenting the details in a Participation Agreement and New Employer Application. For CAAT, this includes a detailed demographic analysis and risk assessments. Alignment of key stakeholders is confirmed in a Participation Agreement that forms part of the employer’s application to join the Plan. The Participation Agreement is signed following approval by CAAT.

3. Confirm support for participation

We will work with you to help inform your employees, including holding information sessions and providing website tools and a helpline.

4. Onboarding and administration

Once employees enrol and contributions begin, information sessions will be held with employees about their option to purchase additional pension for any periods of employment when they were a member of a registered pension plan or contributed to a registered retirement savings account. We always work with you to ensure a smooth transition.