Your pension is worth so much more than just the contributions you make
The CAAT Pension Plan makes it easy to save for retirement and build a stable, predictable retirement income. You build your pension while you work and contribute a percentage of your earnings into the Plan with each pay, and your employer contributes on your behalf.
Contributions are used to fund your pension, but your pension is worth so much more than just the contributions you make.
You receive immediate tax savings when you contribute to the Plan
Your pension contributions are deducted from your gross income, which reduces your taxable income – the amount on which your taxes are deducted. By the end of the year, the income on which you pay taxes has been reduced by the amount of your pension contributions. This has the same effect as an RRSP contribution – but your employer reduces your tax right away, so that you don't have to wait until you file your tax return.
Your employer contributes on your behalf
The contributions you and your employer make are prudently invested in the Plan fund from which your pension is paid when you retire.
The contributions you and your employer make are allowed to accumulate in the pension fund tax-free
Once you retire and begin collecting your pension from the Plan, income tax will be applied to your payments. However, in most cases, it will be at a lower marginal tax rate than when you were employed.
Remain a contributing member even if you change employers
Once you join the Plan, you cannot opt out or stop contributions while employed with a participating employer.
DBprime contribution rates are 11.2% on earnings below the Year’s Maximum Pensionable Earnings (YMPE) and 14.8% on earnings above the YMPE, matched by your employer.
Your contributions are based on your contributory earnings, which include basic salary and other payments such as shift premiums and coordinator allowances, but do not include overtime pay, most lump sum termination payments, and certain other types of payments.
DBplus contribution rates were set by your employer when it joined the CAAT Pension Plan. Employers also contribute on your behalf. DBplus contributions are based on employment earnings as defined by your employer but in most cases is equal to your T4 earnings.
Please select your employer or group employer from the list below to see your contribution rates and your employer's contribution rates.
British Columbia Unclaimed Property Society
All employees, who are hired after the effective date will contribute at a rate of 6.0%.
All employees, who are employed at the effective date can choose between option 1 and option 2.
Catholic Charities of the Archdiocese of Toronto and Participating Member Agencies
Employees hired on or after January 1, 2020 will contribute to DBplus at the rate of contribution in effect at the time of hire.
Employees previously participating in the defined benefit (DB) plans will start contributing to DBplus at 5.0% with a 0.5% annual increase until January 1, 2024. Thereafter, contribution rates will be fixed at 7.0% of earnings. The employer contribution rate is 7.0% from the start and your pension benefit will be calculated (deemed) as if both employee and employer contributed 7.0% of earnings in each year as follows:
Employees previously participating in the defined contribution and Group RSP plans at a rate higher than indicated will start contributing to DBplus at their current rate until they meet the next threshold rate and ‘phase-in’ as follows (annually these pensions will be calculated based on the total contributions):
CBIA/Lawyers Financial Program
Please contact you employer for more information.
Shareholder Association for Research and Education
The Canadian Press
Torstar Group of Companies
Members with DBplus benefits only
Members with a previous Torstar Defined Benefit plan
United Way of Greater Toronto
Employees hired on or after January 1, 2020 will contribute to DBplus
at 6.0%, matched dollar for dollar by United Way of Greater Toronto
Employees hired prior to January 1, 2020 will start contributing in each year as follows:
University of Saskatchewan
For members of the University of Saskatchewan and Federated Colleges Non Academic Pension Plan:
All employees, including OTRFT, who are hired after the effective date will contribute at a rate of 6.0%.
All employees, including OTRFT, who are employed at the effective date can choose between option 1 and option 2.
Employees hired on or after June 1, 2020 will contribute to DBplus at the rate of contribution in effect at the time of hire.
Winnipeg Free Press and Canstar Community News
Employee previously participating in the defined contribution (DC) Plan and employees hired on or after January 1, 2020 will contribute to DBplus at 5.0%, matched dollar for dollar by FP Canadian Newspapers Limited Partnership.
Employees previously participating in the defined benefit (DB) portion of the WFP/Canstar Pension Plan will contribute in each year as follows (annually these pensions will be calculated (deemed) as if both employer and employee each contributed 5.0% of earnings):
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