Get started with 3 easy steps
planning your retirement
The process to start your pension is simple.
It’s important to return your completed and signed Option Document, TD1 forms, and all required supporting documentation to the CAAT Plan by the deadline to ensure your payments start on time. Once we’ve received your signed Option Document, and all supporting documents, your pension will be processed. It will be paid on the first of the month by direct deposit. If the first of the month is a holiday, your pension is deposited the day before. (The exception is the January 1 payment, which is made on January 1 each year.)
When you receive your Retirement Option Document from the CAAT Pension Plan, you might have a few different payment options to choose from.
If you have an eligible spouse at retirement, you’ll have the option to choose an actuarially reduced pension now, so that when you die, your spouse will receive a 75% survivor pension instead of the default 60% survivor pension. You can only make this choice at retirement, so it’s important to be ready. The option document will show you what your pension would be if you choose the 60% or 75% survivor option.
Marital separation and divorce is the number one cause of delayed pension
starts. If you were legally married during your membership in the Plan,
and subsequently separated or divorced, we’ll need to confirm if your
pension is to be split with your ex-spouse, and any other details,
before processing your pension.
Important note about proof of age: Not providing
proof of age (and your Spouse’s if applicable) can delay your pension.
Acceptable proof of age includes any government issued identification
(federal or provincial) that clearly shows the card holder’s date of
birth, excluding health cards, (e.g. passport, birth certificate,
citizenship card, driver’s license). Remember: payment will not be made
unless proof of age is provided.
You can start your CPP or QPP pension any time after age 60, and your OAS
any time after age 65. Be sure to apply for these benefits at least six
months before you want to start collecting them.
You must apply directly to Service Canada to receive the necessary
information and application forms for your Canada Pension Plan.
Most are automatically enrolled to receive their OAS benefit. If you are
eligible for automatic enrolment, you will receive a notification
letter in the month after you turn 64. If you do not receive a letter,
you must apply for your OAS pension in writing. Contact Service Canada
at least six months before you turn 65 to start the application process.
For more information visit Canada.ca, or call 1-800-O-CANADA. Visit
Retraite Quebec to apply for QPP.
To be sure your pension starts on time, refer to the table below. Your completed Option Documents and supporting documents must be received by the Plan by 3:00 pm (ET) on the deadline dates listed below.
Dates for 2024
Did you join the CAAT Pension Plan through a merger?
Your deadlines may be different. Please refer to your Option Document for the deadlines that apply to you.