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Your pension contributions

The CAAT Pension Plan makes it easy to save for retirement and build a stable, predictable retirement income. You contribute a percentage of your earnings into the Plan each pay and your employer matches your contributions dollar for dollar.

Your contributions, and those of your employer, are prudently invested in the Plan fund from which your pension is paid when you retire. Contributions are used to fund your pension, but your pension is worth so much more than just the contributions you made.

  • You receive immediate tax savings when you contribute to the Plan. Your pension contributions are deducted from your gross income, which reduces your taxable income – the amount on which your taxes are deducted. By the end of the year, the income on which you pay taxes has been reduced by the amount of your pension contributions. This has the same effect as an RRSP contribution – but your employer reduces your tax right away, so that you don't have to wait until you file your tax return.
  • Your contributions are matched by your employer. These contributions are not a taxable benefit to you and you do not count this as income.
  • Like your RRSP savings, the contributions you and your employer make are allowed to accumulate in the pension fund tax-free. Once you retire and begin collecting your pension from the Plan, income tax will be applied to your payments. However, in most cases, it will be at a lower marginal tax rate than when you were employed.

Your DBplus contribution rates

DBplus contribution rates were set by your employer when it joined the CAAT Plan. Employers match member contributions. DBplus contributions are based on any employment earnings that are received by you and are reflected on your T4.

Choose your employer from the list below to see your contribution rates.

Effective date Employee contributions Employer contributions
July 1, 2019 - March 31, 2020 4.0% 4.0%
April 1, 2020 and thereafter 5.0% 5.0%
Effective date Employee contributions Employer contributions
August 1, 2019 - July 31, 2020 3.0% 3.0%
August 1, 2020 - July 31, 2021 4.0% 4.0%
August 1, 2021 and thereafter 5.0% 5.0%
For corporate officers
August 1, 2019 and thereafter 5.0% 5.0%
Effective date Employee contributions Employer contributions

 

Option 1 Option 2

 

January 1, 2019

1.0%

5.0%

5.0%

January 1, 2020

2.0%

5.0%

5.0%

January 1, 2021

3.0%

5.0%

5.0%

January 1, 2022

4.0%

5.0%

5.0%

January 1, 2023 and thereafter

5.0%

5.0%

5.0%

Contribute as long as you work (until you turn 71)

If you decide to work past the normal retirement age of 65, you can keep contributing and earning more retirement income until you stop working. However once you turn 71, you must stop contributing to the fund and start collecting your pension, even if you continue working.

Enrolling in DBplus

If you work for an employer that participates in DBplus, and you have the option to join, contact your employer to complete an enrolment form. 

Do you work outside of Ontario?

Some Plan provisions may be impacted by the pension legislation that is applicable based on your province of employment.
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Questions? Contact Us

The CAAT Plan's member services team are available to answer any questions you may have.