Centennial College Retirees Association (CCRA)


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2014 Pension Update

Pensions to increase by 0.68% in 2014.
As of January 1, 2014, all CAAT Plan pensions in payment will increase by 0.68%.
Inflation protection increases apply to:
·        Current pensions
·        Survivor pensions
·        Bridge benefits (for early retirees, who are still under age 65).
·        Deferred pensions
If you retired in 2013, the increase to your pension in 2014 will be pro-rated to reflect the months in 2013 during which you were collecting your pension.
Inflation protection is cumulative: the increase applies not only to your original pension, but also to any previous inflation protection increases that you are already receiving.
Inflation protection increases relate to your years of service
There are three service periods used in the calculation of inflation protection and each is treated differently:
·        On service earned before 1992, inflation protection increases are ad hoc. This is the last scheduled increase on this portion of your pension is January 1, 2014. After 2014, no further increases on this portion are scheduled.
·        On service earned between 1992 and 2007, inflation protection increases are funded and are guaranteed indefinitely.


·        On service earned after 2007 the granting of increases is conditional on affordability, based on the funding status of the Plan. On service earned after 2007, inflation protection increases have been granted until January 1, 2017. Increases beyond 2017 will be based on the funding level at that time.

Related links:
CAAT Pension Plan Annual Report
CAAT Pension Plan Inflation Protection

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2013 Pension Information
2013 pensions to increase by 1.45%
As of January 1, 2013, the CAAT Pension Plan inflation protection rate will be 1.45%.
The inflation protection increase will apply to current pensions, deferred and survivor pensions, and to the bridge benefits of those who retired before the age of 65. If you retired this year, the increase to your pension in 2013 will be pro-rated to reflect the months in 2012 during which you were collecting your pension.

Inflation protection is cumulative: the increase applies not only to your original pension, but also to any previous inflation protection increases that you are already receiving.
Calculation based on inflation and your service 
The inflation protection calculation compares the year-over-year percentage change in the average Consumer Price Index (for the years, ending in September) and increases pensions by 75% of this amount. The calculation is further based on when you earned service in the CAAT Pension Plan as follows:
  • On service earned before 1992, inflation protection increases are ad hoc and granted until January 1, 2014.
  • On service earned between 1992 and 2007, inflation protection increases are funded and are guaranteed indefinitely.
  • On service earned after 2007 the granting of increases is conditional on affordability, based on the funding status of the Plan. On service earned after 2007, inflation protection increases have been granted until January 1, 2015.
By the end of this year, you will receive a letter from our pension payroll agent advising you of the new pension amount you can expect to receive starting January 1, 2013.