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Two employers from British Columbia’s not-for-profit sector are the latest to join the Colleges of Applied Arts and Technology pension plan’s DBplus.

Effective Oct. 1, 53 full-time and six part-time staff at the Vancouver Foundation and four full-time and two part-time employees at the British Columbia Unclaimed Property Society became members of the defined benefit pension plan.

Read: SHARE joining CAAT’s DBPlus pension plan

“We want to provide our hard-working team the best possible solutions for a secure, stable retirement,” said Kevin McCort, president and chief executive officer at the Vancouver Foundation. “We’re thrilled to be partnering with CAAT to do just that.”

Alena Levitz, executive director at the B.C. Unclaimed Property Society, added that DBplus allows access for smaller organizations to offer employees the security of a DB plan. “It was an ideal fit for us.”

Since DBplus was made available to all Canadian workplaces in 2019, members from more than 30 employers have joined. The plan now has members from nine different industries and has support and participation from 14 different labour unions. 

Read: Members of Torstar’s eight DB pension plans agree to join CAAT

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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