Although the COVID-19 pandemic has disrupted much of our lives through 2020, CAAT’s growth has not slowed. Since the beginning of the year, CAAT has welcomed more than 25 new employers from seven industries, with employees located across five provinces. We’re pleased to share news about the following organizations:
Canadian Bar Insurance Association (CBIA)
An affinity arrangement between CBIA and CAAT connects the legal community across Canada to a sustainable defined benefit pension. CAAT’s DBplus is the exclusive defined benefit pension offering marketed to the legal community through Lawyers Financial, a brand of CBIA representing a comprehensive suite of financial solutions. Since launch of this innovative arrangement, 18 employers and 78 members from across Canada have joined DBplus.
Ontario Teachers Insurance Plan (OTIP)
OTIP and the OTIP group of companies joined DBplus effective September 7, 2020. CAAT welcomed 685 full-time employees from across Ontario, Alberta and Quebec, who joined DBplus on a go-forward basis.
On August 1, 2020, foundation employees joined their academic, support and administrative colleagues on the campuses of Mohawk College as members of the CAAT Pension Plan.
Brink’s Canada was looking for a solution that would relieve the high servicing costs of administering a single employer pension plan, while continuing to provide their employees with a valuable, competitive pension. Over 750 full-time and part-time Brink’s personnel – 582 from Ontario and 175 from British Columbia – represented by Unifor, joined DBplus on a go-forward basis effective July 1, 2020.
Saint John Airport
As part of their new collective agreement, ratified earlier this year, the employees at Saint John Airport, represented by the Public Service Alliance of Canada (PSAC), joined DBplus on a go-forward basis effective July 1, 2020. With this change, these members moved from a defined contribution plan into a modern defined benefit plan.
Employees at Vopak Terminals of Canada – Hamilton, represented by Unifor 2003E, joined DBplus on a go-forward basis effective June 1, 2020.
Fraser Group, a marketing information and research firm that works with the employee benefits and insurance markets in Canada, joined on March 1, 2020.
Skills Ontario is an organization dedicated to building Ontario’s skilled trades and technology workforces. Skills Ontario joined retroactive to January 1, 2020.