The College of Physicians and Surgeons of Newfoundland and Labrador is the latest employer to join the Colleges of Applied Arts and Technology pension plan’s DBplus.
The college’s 14 employees were contributing to a defined contribution arrangement before joining the plan on Nov. 1. The individual employees have the option to convert their DC accounts to the DBplus pension.
“The College of Physicians and Surgeons of Newfoundland and Labrador is pleased to have joined with the pension experts at CAAT to provide our valued staff with access to a secure and sustainable lifetime pension,” said Linda Inkpen, the organization’s registrar, in a press release. “CAAT’s defined benefit plan will help the college continue to attract and retain its top talent.”
Since DBplus was made available to all Canadian workplaces in 2019, members from more than 30 employers have joined. The CAAT now has members across Canada from nine different industries and participation from 14 different labour unions.