Youth Services Bureau pension members overwhelmingly endorse merger with CAAT
(Toronto: January 4, 2018) Members of The Youth Services Bureau of Ottawa (YSB) pension plan joined the Colleges of Applied Arts and Technology (CAAT) Pension Plan, effective January 1, 2018.
Under the merger, the 300 active, retired and deferred pension YSB plan members will receive a pension based on the YSB plan provisions for service accrued to December 31, 2017, and a pension based on CAAT Plan provisions for service accrued after that date.
During the 90-day consent period required under provincial regulations, 99.6% of active YSB plan members voted for the merger, while no retired or deferred members objected. This overwhelming consent outshines the regulatory requirements of two-thirds of active members approving with no more than one-third of retired and deferred members objecting.