Starting your deferred pension
Leaving employment before retirement
IN RETIREMENT
Offering flexibility
Your deferred pension is the amount of pension you earned in the Plan during your active membership, up to the date you terminated your employment. A deferred pension offers the flexibility to collect a secure lifetime pension from the CAAT Pension Plan, even if you left employment before you were eligible to retire.
When can you start your deferred pension?
If you were in the DBplus Plan design, or if you had 20 years of service when you terminated in the DBprime Plan design, you can start your deferred pension as early as age 50. If you earned your pension in the DBprime Plan design, you can start your deferred pension between the ages of 55 and 65. (or as early as age 50 if you had 20 years of service when you terminated).
Once you start your pension:
- Your pension will be paid on the first of each month for the rest of your life.
- Your pension will be increased each year with conditional inflation protection, when granted.
- Your spouse will receive a survivor pension for his or her life if you predecease them.
How to start collecting your deferred pension
To start collecting your pension, you will need to provide the CAAT Plan with the following documentation:
- Complete the Deferred Pension Application form in its entirety and sign it.
- Complete and sign federal and provincial TD1 tax forms. These forms can be downloaded from the Canada Revenue Agency's website, or contact us for copies.
- Provide valid copies of proof of age for you and your spouse. Payments will not be made unless proof of age is provided.
Once we have received your completed forms and supporting documents, we will prepare your option documents that will be mailed to you. Once you elect your option and return the documents to us, we will begin processing your pension. Your deferred pension starts receiving inflation protection increases, when they are granted, even before you start your pension.
Important note about proof of age
Acceptable proof of age includes any government issued identification (federal or provincial) that clearly shows the card holder’s date of birth, excluding health cards, (e.g. passport, birth certificate, citizenship card, driver’s license). Please note that payments will not be made unless proof of age is provided.
Forms
Deferred Pension Application form (PDF)
More information about your deferred pension
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