your merged plan
January 1, 2024
The merger of The Manitoba Teachers’ Society Staff Pension Plan (“MTS Staff Pension Plan”) and the CAAT Pension Plan is subject to the Pension Benefits Act (Manitoba) and its regulations.
Effective January 1, 2024 (“effective date”), all members of the MTS Staff Pension Plan started contributing to and earning a pension under CAAT’s DBplus plan design.
All employees hired on and after the effective date will be required to join DBplus on their date of hire.
Effective January 1, 2024, you and your employer started making contributions to DBplus based on a percentage of your eligible earnings indicated in the table below:
For the merger to proceed, the Office of the Superintendent – Pension Commission (the “Manitoba Superintendent”) must approve the transfer of defined benefit assets. An application will be filed with the Manitoba Superintendent in the coming months. Once approved, MTS Staff Pension Plan members will be notified that their past pension benefits will be transferred to and replicated in the CAAT Pension Plan.
Prior to the transfer of assets please send your inquiry to: Sara Lauman, at Coughlin & Associates Phone: 204-942-4438 ext. 3263 Email: slauman@coughlin.ca
Once the assets are transferred, you will be advised and thereafter you can send your inquiry to: Manitoba Teachers’ Society member services at the CAAT Pension Plan Phone: 1-800-210-7806 Email: caat.mts@mercer.com
If the Manitoba Superintendent consents to the merger, the total combined retirement pension for active members in the MTS Staff Pension Plan will be made up of two parts:
MTS Staff Pension Plan past pension + CAAT pension = Total annual pension payable from the CAAT Pension Plan
Your DBplus pension, once in pay, will continue to grow with annual conditional inflation protection increases at a rate of 75% of the year-over-year percent increase in the Consumer Price Index (“CPI”) (up to a maximum increase of 8% with a carry forward provision for any amount above 8% in a given year), beginning January 1, 2025 (or from your pension commencement date, if later). These increases will allow your pension to continue to grow with the economy, maintaining your spending power in retirement. Inflation protection increases are conditional on the CAAT Pension Plan Funding Policy.