Municipal benchmarking collaborative is CAAT’s newest employer
Toronto, December 7, 2020 — MBNCanada (formerly Ontario Municipal Benchmarking Initiative) has joined
CAAT Pension Plan through DBplus, retroactive to October 1, 2020.
MBN (Municipal Benchmarking Network) of Canada is a collaborative of Canadian municipalities from across the country that participate in programs for benchmarking and measuring performance of municipal services. Newly establishing itself as an employer, MBNCanada was created earlier this year and the organization now provides its employees with a defined benefit pension through DBplus.
As an innovative and award-winning plan, DBplus is making defined benefit pensions accessible to more working Canadians across the country. Base planning assumptions are that the CAAT Plan, which currently has more than 65,500 members, is expected to grow by 300,000 in the next six years.
The CAAT Pension Plan is open for growth in membership from the public, private or not-for-profit sectors in Canada. This includes workplaces currently offering defined-benefit pension plans, defined contribution plans, group RRSPs, and those with no current workplace retirement savings plan. Although DBplus was only made available to all Canadian workplaces in 2019, members from more than 30 employers have already joined. CAAT now has members across Canada from nine industries and has support and participation from 14 unions and member associations.
“I am delighted to welcome MBNCanada and its employees to CAAT. DBplus is so relevant today. It is a pension solution everyone can support, including smaller organizations. It provides meaningful pension benefits to employees and achieves the goals of employers and their boards.”
Derek W. Dobson, CEO and Plan Manager, CAAT Pension Plan
“MBNCanada is an employer of choice and providing a defined benefit pension through DBplus means we can continue to attract and retain excellent employees. We’re pleased to have joined with the pension experts at CAAT to provide our valued staff with access to a sustainable lifetime pension.”
Meighan Finlay, Executive Director, MBNCanada
For more information:
CAAT Pension Plan