As a member of the CAAT Pension Plan, you have the option to transfer some or all of your benefit with Sunlife into DBplus. This is called a “pension purchase”, and it will let you get a bigger pension from one of Canada’s most sustainable and fastest-growing pension plans.
The amount of pension you purchase using your funds from your benefit with Sunlife will become part of your total DBplus pension. While you’re working, your total pension will grow with conditional Average Industrial Wage (AIW) increases, and when you retire, it will continue to grow with conditional inflation protection. Your total pension – the portion you’re earning and the portion you purchase – will be paid to you when you retire for as long as you live.
Purchases can be complex, but CAAT is making it easy by breaking down the purchase process into three stages – Learn, Return, Earn. Visit the DBplus purchases page for an overview, then access the following pages for details, videos and more.
After you enrol in DBplus, you’ll be able to activate My Pension, CAAT’s online pension portal. There you’ll have access to your pension information along with an interactive pension estimator. With a few clicks, you can estimate your pension, then see how a purchase can increase it.
To activate your My Pension account, visit the Login page and click on My Pension to learn more.
If you haven’t enrolled in DBplus yet, you can still estimate the value of a purchase by visiting the DBplus Pension Estimator.
To get started, select your employer name from the available list of employers and agree to the terms of use. After you enter some key information such as your date of birth and your earnings, you’ll get an estimate of your pension at age 65. You’ll then have the option to “See the value of a purchase” to estimate how much your prior plan balance will purchase in DBplus, and the impact it will have on your overall pension.