OCASA/APACO

Due to sound governance practices and a long-term focus, the CAAT Pension Plan will likely never face the difficulties of private pension plans, according to Plan CEO Derek Dobson.

Dobson addressed the OCASA Pension Corporation Board at its Fall meeting on November 9.
Since private plans face the reality of windup obligations (as in the case of bankruptcy), they must have the assets to make this possible. Dobson stated that since public pensions will, in effect, never wind up, they have less urgency in dealing with short-term market volatility. “We look at securing the pension promise with appropriate contribution rates,” he said. “We try to minimize contribution volatility and we look at equal treatment for different generations of our membership.”

He noted that private plans have been in the news recently for failing to secure benefit obligations when they had the capacity to do so. Public pensions do not face this challenge, Dobson said, “so the rules for private pensions are not meaningful for us. The recent report of the Ontario Expert Commission on Pensions agrees with our views on this.”

PowerPoint outline of Mr. Dobson’s remarks are available here.

For more information:

On OCASA Pension Corporation:  click here

For more on Derek Dobson: click here