What happens if I become eligible to retire during the 24-month extension period?

If your pension is in DBprime and you turn 55 during the 24-month extension period (or you turn age 50 and have 20 years of pensionable service), you can start receiving your pension immediately with a reduction. You will also receive a bridge benefit, paid to age 65.

If you are earning a pension in DBplus and you turn 50 during the 24-month extension, you can start receiving your pension immediately with a reduction.

In both cases, if you take an early pension, it may be subject to a reduction which will also apply to any applicable bridge benefits you may be eligible to receive.

If you become eligible to retire during the 24-month extension and wish to start receiving your pension early, you should contact CAAT directly.

During the extension of membership, you may choose to transfer existing tax-sheltered funds into the optional GROWTHplus Investment Account (GROWTHplus) and benefit from CAAT’s investment returns, together with the secure lifetime pension you have with CAAT. As a deferred member you can continue to participate in GROWTHplus throughout your lifetime.