CAAT Pension Plan Members from The Canadian Press
The merger of the two Canadian Press (CP) defined benefit pension plans 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 100% of Canadian Press Plan members voted in favour of merging with the CAAT Pension Plan. Members of all the Canadian Press’ employee pension plans – both its defined benefit (DB) and defined contribution (DC) plans – started contributing to and earning a pension under the CAAT Pension Plan'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 was filed on August 12, 2019, and once approved by FSRA, Canadian Press 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 The Canadian Press.
|Effective date||Employee contributions||Employer contributions|
|July 1, 2019||7.0%||7.0%|
Who do I contact if I have questions about my pension benefits or need to change my personal information?
Canadian Press member services at the CAAT Pension Plan
Toll Free: 1.800.893.3540
E-mail address: email@example.com
Details about your new CAAT pension
If you have a pension from any former Canadian Press DB plan, your total annual pension will be the sum of two parts:
Canadian Press pension + DBplus pension = Total annual pension payable from the CAAT Pension Plan
- Your Canadian Press 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.