Do you work part time or on contract?
As a part-time or contract employee of an employer that participates in the CAAT Pension Plan, you may have the option to join the DBplus plan design at any point during your employment.
If you choose to join DBplus, you will begin contributing and building valuable, secure retirement income. Your employer also contributes to your pension on your behalf. When you retire, you will start collecting a lifetime pension which includes additional features, such as:
You will contribute for as long as you are employed by a participating employer, on every pay. Your employer will also make contributions to the Plan on your behalf, increasing your overall pension.
While it’s never too early to start saving for retirement, it is important to consider if membership in DBplus fits into your budget and career plans. In deciding to join, you should think carefully about your own situation. Different factors will be relevant for each individual and only you can determine the action that is best for you.
It's important to note that, once you have joined the Plan, you remain a member. While you are employed by a participating employer you cannot opt out and stop contributing.
Once you've reviewed the resources and have decided to join DBplus, all you have to do is complete the Enrolment form.
If you work in the Ontario College system
If you work for an employer that joined DBplus since 2019 or required a voting process
We've answered some of the most-asked questions about joining DBplus, below. If your question isn't answered here, contact our member services team.
If you are no longer employed by a participating employer, and you are not yet eligible to retire, you remain a Plan member for 24 months. If you take a job at a new employer that participates in the CAAT Plan during those 24 months, you will resume contributing to the Plan and you will earn additional benefits.
Your benefit is locked-in, which means even if you leave the Plan before retirement, it must be used for retirement income, and cannot be taken as a cash payout.
In that case, you will join DBprime and start making contributions and earning a pension at the DBprime rates. Every year you contribute to DBplus, you will get a full year of early retirement eligibility service recognized under DBprime. This will help you reach your earliest unreduced retirement date under DBprime sooner.
When you retire, your total pension would be the combined pension earned under both Plan designs.
If you begin working at an employer that only participates in DBplus, you would remain in DBplus.