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Upgrading from a group or other employer-funded RRSP

If your workplace currently offers a group registered retirement savings plan (Group RRSP), or provides employees with funds to contribute to their RRSPs, the transition to DBplus – to offer employees a valuable and secure defined benefit pension, for a fixed contribution rate – is seamless and efficient.

The process to join is easy and can take as little as a few months. Following approval of the employer’s application, employees begin to build valuable lifetime pensions from the point contributions begin. They also have the individual option to purchase additional pension in DBplus using funds in the group or employer-funded RRSP that were contributed during their tenure with the employer.

1. Contact us for information

CAAT answers your questions about the plan design and easy steps to joining. 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 non-identifying employee data is supplied to CAAT for preliminary analysis.

2. Document the details

Review and document the details in a Participation Agreement and New Employer Application, subject to due diligence activities. 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

CAAT can help inform employees, including holding information sessions and providing website tools and a helpline.

4. Onboarding and administration

Employees enrol, contributions begin, and pension purchase information sessions are held with employees. We work with you to ensure a smooth transition.


See the process at a glance

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Interested in bringing DBplus to your workplace?