Employees of Candu Energy Inc., Canadian Nuclear Laboratories and Global First Power are joining the Colleges of Applied Arts and Technology’s DBplus pension plan.
Unionized members of Candu and CNL were previously in a defined contribution pension plan, while employees of Global First Power were enrolled in a group registered retirement savings plan, according to a press release.
Read: N.S. providing CAAT DBplus pension plan, comprehensive benefits plan to ECEs, support staff
The three organizations are the latest to join the DBplus arrangement, which also includes employers such as Pacific Western Transit Canada, Stellantis, the City of Whitehorse and Woodbridge Foam Corp. As of Jan. 1, 2023, the CAAT pension plan had $18.2 billion in assets, an annualized 10-year net rate of return of 9.7 per cent and a funding level of 124 per cent.