United Way of Greater Toronto voting to join the Plan
United Way of Greater Toronto has entered into an agreement to merge its pension plan with the CAAT Pension Plan. As with previous mergers of this type, active members of the United Way of Greater Toronto pension plan must consent to the merger through a voting process, with unionized members being represented by their local COPE Ontario (Local 343). This voting process will conclude on November 12, 2019. If the merger proceeds, employees will start contributing to and earning a benefit under the CAAT Pension Plan as of January 1, 2020. The assets of approximately $25 million from United Way’s existing defined benefit plan will be transferred and benefits will be replicated under the CAAT Pension Plan after approval from the Financial Services Regulatory Authority of Ontario.
Interested in learning more?
If you represent an interested employer or member group and would like to speak to us, contact the CAAT Pension Plan directly.