The assets have transferred from the Torstar defined benefit pension plans to the CAAT Pension Plan.
The Financial Services Regulatory Authority (FSRA) has provided consent to the transfer of assets from Torstar Corporation’s eight defined benefit (DB) pensions plans into the CAAT Pension Plan. The assets – totalling almost $900 million – were transferred to CAAT on December 2, 2019.
The transfer is the last stage of the merger process, which began after the Torstar DB Plan members provided overwhelming support in favour of joining the CAAT Plan.
Torstar Plan members can expect to receive a communication with further details about their pension now that the assets have transferred. Should you have any questions, please email info@dbplus.ca.
On September 27, 2018, an overwhelming 97% of Torstar Plan members voted in favour of merging with the CAAT Pension Plan. Employees who had past defined benefit pensions started contributing to, and earning, a pension under CAAT’s DBplus plan design effective October 1, 2018. Employees who participated in the defined contribution or group RSP plans joined DBplus on January 1, 2019.
The Financial Services Regulatory Authority of Ontario (FSRA) issued a Notice of Intended Decision for the merger of the of the Torstar plans into the CAAT Pension Plan on October 25. By issuing this notice, the Chief Executive Officer (CEO) of FSRA indicated an intention to consent to the pension plan mergers following a standard 30-day period to facilitate any applicable requests to the Financial Services Tribunal.
DBplus contributions are based on employment earnings and are matched dollar for dollar by the Torstar Group of Companies.
Members with DBplus benefits only
Members with a previous Torstar defined benefit plan
Torstar member services at the CAAT Pension Plan Toll Free: 1.855.890.5740 E-mail address: TorstarEmployeeMailbox@buck.com
If you have a pension from any former Torstar Plans, your total annual pension will be the sum of two parts:
Torstar Plan pension + DBplus pension = Total annual pension payable from the CAAT Pension Plan