Pension Deduction and Premium Rate Changes for Group Insurance Benefits

CAAT Pension Deduction Changes - Effective January 1, 2025 

DBPrime Members: Full-Time Academic, Administrative (Admin) and Support Staff 

Effective January 1, 2025, pension contributions will be reduced by 1 per cent.  Contribution for full-time employees will decrease as per below: 

  • From 11.2 per cent to 10.2 per cent on earnings up to the Year’s Maximum Pensionable Earnings (YMPE) of $71,300 
  • From 14.8 per cent to 13.8 per cent on earnings in excess of the YMPE of $71,300. 

These changes will be automatically adjusted and will be reflected on your first pay in January.   

DBPlus Members: Part-Time (Admin and Support), Partial Load, and Clinical Employees who have opted to enrol in CAAT Pension 

Effective January 1, 2025, the annual pension factor will be 9.5 per cent (an increase from the current rate of 8.5 per cent).  This means your pension will grow over 10 per cent faster, while your contributions stay the same! 

For more information on this announcement please visit CAAT Pension Plan Changes. Alternatively, you can contact CAAT directly, please visit CAAT Pension Plan - Contact Us. 

Premium Rate Changes for Group Insurance Benefits – Effective February 1, 2025 

As many of you know, Humber Polytechnic participates in a provincial benefit program for the 24 Colleges in Ontario administered by the College Employers Council (CEC). Our participation in this plan is a legislated requirement. Each year, an analysis is done based on the usage of the benefit plan(s) and the required premiums for the next year to cover the cost of the plan in the future.   

Based on that analysis effective February 1, 2025, benefit premium rates will be updated to reflect the new premium rates. The updated premium rates can be found on the Benefits section of the People(s) & Culture website, under “Benefits Entitlement and Cost” (please scroll to the bottom of the page).  

For more details about your benefits coverage, please refer to the resources on the Group Benefits Program section of the People(s) & Culture website. Please note the CAAT Benefits Booklets will be updated in the coming weeks.  

For questions related to your benefits coverage, please contact Sun Life by visiting the Sun Life Contact Us page or by calling 1.800.361.6212.   

If you have any other questions, please contact the HR Support Centre.