How a modern business solution is helping employers improve their branding and recruitment strategies

Canadian job seekers are putting employers who provide retirement plans at the top of their job search – because 77% of Canadians believe employers are responsible for offering a pension plan in the workplace (HOOPP and Abacus Data, 2021 Canadian Retirement Survey, May 2021).

Becoming an employer of choice

Employers are now tapping into the link between workplace retirement plans, corporate social responsibility, and branding as a responsible employer of choice. Colleges and Institutes Canada | Collèges et instituts Canada (CICan) wanted to upgrade its existing Group RRSP plan to find a solution that supported its employees and made their workplace more attractive to future job seekers.

77% of Canadians believe employers are responsible for offering a pension plan in the workplace.

Retirement plans like CAAT Pension Plan ’s DBplus offer more value through a secure lifetime pension while taking on pension administration, freeing up the employer’s time and resources to focus on other core responsibilities.

With DBplus, CICan was able to move from an RRSP to a defined benefit plan where the employees now enjoy the security of a professionally managed pension plan with over 250 employers and 78,000 members nationwide.

The CAAT Advantage

• DBplus offers options such as asymmetrical levels of contribution and a phase-in period, allowing employees and employers to gradually increase contributions to their lifetime retirement income (contributions are chosen by the employer and remain fixed, unless requested!)
• CAAT provides an all-encompassing solution to employers by taking on: compliance, fiduciary responsibilities, administration, member education, and aspects of communication.
• CAAT provides a simple on-boarding process, and its experts are available to offer both member and employer support, including member and employer education sessions and additional communications.
• By joining CAAT’s DBplus, employees have peace of mind while working, knowing CAAT is managing their investments. They also have peace of mind in retirement, knowing CAAT will provide them with lifetime retirement income.

“We are incredibly excited to join the CAAT Pension Plan through DBplus. Our association strives to be an employer of choice and to offer competitive benefits to all our employees. By joining CAAT we can provide them with a solid and reliable option to save for retirement and the peace of mind that comes with a well-established pension plan.”

- Denise Amyot, B.Sc, B.Ed, M.Ed, LL.D, ICD.D, GCB.D, CCB.D , President and CEO, Colleges and Institutes Canada

Curious about DBplus?

To learn more about how CAAT’s DBplus plan design can meet the needs of your organization, visit our Pension Solutions Page or contact us at [email protected].