CAAT Pension Plan Members from Postmedia Network Inc.
The merger of the prior defined benefit plans of Postmedia Network Inc. with the CAAT Pension Plan is regulated by legislation and is a two-step process.
The first step is complete
On June 28, 2019, an overwhelming 99% of Postmedia Network Inc. plan members voted in favour of merging with the CAAT Pension Plan. Members of all Postmedia’s employee pension plans – both its defined benefit (DB) and defined contribution (DC) plans – started contributing to, and earning, a pension under CAAT’s DBplus plan design effective July 1, 2019.
The second step is in progress
The Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (“FSRA”) must approve the transfer of pension plan assets and liabilities. An application will be filed with FSRA in the coming weeks. Once approved by FSRA, Postmedia DB plan members will be notified that their past pension benefits will be transferred to and replicated in the CAAT Pension Plan.
What is my DBplus contribution rate?
DBplus contributions are based on employment earnings and are matched dollar for dollar by Postmedia Network Inc.
|Effective date||Current employee contribution rate of 3%||Current employee contribution rate of 4%||Current employee contribution rate of 5%|
|July 1, 2019 - June 30, 2024||3.0%||4.0%||5.0%|
|July 1, 2024 - June 30, 2025||4.0%||4.0%||5.0%|
|July 1, 2025 and thereafter||5.0%||5.0%||5.0%|
Who do I contact if I have questions about my pension benefits or need to change my personal information?
Postmedia member services at the CAAT Pension Plan
c/o Morneau Shepell Ltd.
800 Bay Street, 7th Floor
Toronto, Ontario M5S 3A9
Toll Free: 1.855.369.9479
Details about your new CAAT pension
If you have a pension from any former Postmedia Network DB plan, your total annual pension will be the sum of two parts:
Postmedia pension + DBplus pension = Total annual pension payable from the CAAT Pension Plan
- Your Postmedia pension is the pension you have earned up to June 30, 2019, which will be replicated and payable from the CAAT Pension Plan, once assets are transferred.
- Your DBplus pension is the pension you are earning under the DBplus plan design as of July 1, 2019.