Have you ever wrestled with the idea of a pension plan?

Canadians understand the need to save for retirement, but sometimes even people with pension plans may wonder about their value. From feeling like the money is more beneficial to them now to believing they could invest just as well; we often see people questioning the importance of having a pension. For Christine Griffith, those concerns initially crossed her mind, but over time she realized that the CAAT Pension Plan put them all to bed.

A recent retiree from Fanshawe college, Christine did not fully understand the value of her pension when she first joined. There were times she felt she could invest the funds just as well and perhaps use the funds she was contributing for some other purposes. But looking back now, she is glad she stuck with her pension plan. There is no question that the CAAT Pension Plan was the right tool to let her retire with security and confidence.

"… there's absolutely no doubt that …the CAAT plan was …essential to my ability to not only choose the retirement date that I did but to be able to look forward into my retirement years with security and considerable confidence."
- Christine Griffith

Being a part of the CAAT pension plan means:

• You do not have to worry about timing your retirement based on the investment market or your balance amount. Your pension is based on a formula that determines your annual retirement income, so you can confidently plan your future.
• Your employer also contributes on your behalf, which means a larger pension for you in retirement.
• You don’t have to worry about how long your pension will last – it is paid for the rest of your life.
• You don’t have to worry about your loved ones after you die. If you have an eligible spouse when you die, they will get a pension for their rest of their life too - at no additional cost. If you don’t have an eligible spouse, there may be other survivor benefits that apply. You can learn more here.

We want all our members to feel like Christine and have that confidence in the value of their pension and knowing that their retirement income is secure, and for life.

Learn more about how CAAT is helping Canadians reimagine a better life in retirement through our 2021 Year in Review.