CAAT pension plan achieves robust growth in 2023

CAAT Pension Plan's latest report reveals strong results, displaying a significant expansion and security for Canadian retirees

CAAT pension plan achieves robust growth in 2023

The CAAT Pension Plan, one of Canada's fastest-growing modern pension plans, has published its 2023 Annual Report along with a digital “Year in Review.” 

This release highlights the Plan's robustness, ongoing expansion, and its commitment to enhancing retirement income security for a growing number of Canadians. 

In 2023, the Plan welcomed over 80 new participating employers, bringing the total to more than 370, and 11,000 new members, increasing the total membership to over 94,500.  

Notable new participating employers include Canadian Nuclear Laboratories, Lakehead University, and Thunder Bay Pulp and Paper, all now providing their employees with the security of a CAAT pension

The Plan’s investment strategy has consistently delivered strong long-term returns, designed to maintain secure benefits, and allow for conditional enhancements while managing risk appropriately.  

As of January 1, the Plan reports a funded ratio of 124 percent on a going-concern basis, with Plan assets totalling $20.1bn and $5.3bn in funding reserves. 

For the year 2023, the Plan achieved a net investment return of 9.5 percent and reported a 10-year annualized net rate of return of 9.3 percent, significantly exceeding its policy benchmark.  

Derek Dobson, CEO, and plan manager of the CAAT Pension Plan, emphasized, “We are committed to fulfilling our pension promise to members and providing a sense of security that comes with lifetime retirement income.”  

“The strong results of our investment, growth, and funding strategies reinforce the Plan's benefit security and long-term sustainability. Pensions are about trust. Our employers and members place a high degree of trust in the CAAT Plan, which motivates us to continue innovating and improving retirement income security options for Canadians,” he continued.  

The Plan’s effectiveness and reliability are further evidenced by the 2023 Annual Member and Employer Survey results, where nine out of ten member respondents expressed trust in the Plan and its mission to provide secure, valuable, and sustainable pensions.  

Almost all participating employers echoed this sentiment of trust. 

Throughout the year, members, employers, and industry experts have actively participated in CAAT’s plan ambassador program, promoting the message that secure lifetime retirement income is crucial for Canada and emphasizing that “Pensions are for Everyone.”