what employees get
The DBplus plan design by CAAT Pension Plan provides two types of protection against inflation to enhance the value of your pension before and in retirement, conditional on the financial health of the Plan.
While you are working, the pension you have built in DBplus will receive annual enhancements based on the year-over-year increase in the Average Industrial Wage (AIW) in Canada, conditional on the funded status of the CAAT Plan.
The AIW increase for 2024 is 2.99%* and will be applied to all DBplus benefits earned in 2023, as well as to accrued benefits for members on an extension of membership.
*The calculation is 100% of the increase in the July 2021-June 2022 average AIW over the July 2020-June 2021 average AIW.
Once you retire, annual inflation protection increases of 75% of the year-over-year change in the average Consumer Price Index will be applied to your pension, conditional on the funded status of the Plan.
The pension for a surviving spouse receives the same inflation protection increases as member pensions.
Read more about the CAAT Funding Policy.
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