Updates on Plan Changes

November 17, 2025 Update

Some members have been receiving reminder emails from CAAT indicating that they have not received funds yet.  Please note these are automated emails and can be disregarded safely.  CAAT's Purchase Team Management is aware of our current wind up status and aware that no transfers can happen until final wind up approval is received.  We have additionally asked CAAT to withhold future email reminders until the wind up is complete and they have agreed to do so. 

We are still awaiting final approval from FSRA to be able to send the funds, and the Actuary is checking with FSRA weekly to ensure we're doing everything possible to be able to transfer out account balances as soon as approval is received.  Please direct your financial institution and all other inquirers to this page for ongoing updates.

November 5, 2025 Update

On the advice of the Actuary, the Pension Board and Advisory Committee have voted to convert all investments related to pension accounts that are part of the wind up into cash, in preparation for their payout.  This strategic decision was required to be able to transfer the funds out to individual financial institutions or other pension plans, and avoid significant delays once final wind up approval is received from the regulator.  The transition took effect on September 30th, and the funds are being held in cash from this point until their final transfer.  We are still awaiting final approval from FSRA to be able to send the funds, and the Actuary is checking with FSRA weekly to ensure we're doing everything possible to be able to transfer out account balances as soon as approval is received.  Please direct your financial institution and all other inquirers to this page for ongoing updates.

October 27, 2025 Update

At this point we're still awaiting regulatory approval to be able to transfer account balances out to financial institutions.  Though we were hoping that final wind up approval would have been received around this time, the Financial Services Regulatory Authority has not given it yet.  The Actuary is still optimistic that wind up approval will be given by the end of the year.

October 4, 2025 Update

As a result of the ongoing Canada Post strike, some members are having difficulty getting paperwork to Eckler.  All members who are still trying to submit paperwork before the final October deadline can send everything electronically to Pension Services, at crmason@lakeheadu.ca.  Alternatively, all documents can be delivered by hand or interoffice mail to the same department.  Pension Services can upload all documents securely to Eckler directly without the need to use conventional mail services.

At this time, the University is still awaiting approval from the provincial regulator (FSRA) to transfer final account balances.  As FSRA has certain service standards, that approval was expected to occur in the fall, but with no guarantees as to a specific date.  An update will be provided here when that approval has been received.  In the meantime, the University is still collecting consent to submit applications on behalf of active employees who wish to make a CAAT purchase from a LIRA or RRSP account, and will continue to do so until October 15th.  You can complete this form to provide consent to the University to send your earnings information to CAAT for the purpose of submitting a purchase application on your behalf:  CAAT Purchase Application Consent Form

August 25, 2025 Update

Final reminder emails will be going out to all members shortly, belonging to the following groups:

• Members missing all paperwork
• Members missing some paperwork or requiring amendments
• Members with paperwork completed in good order

At this time, Eckler and the University have set a final date to accept paperwork of September 19, 2025.  After that date, Eckler will begin the process of purchasing annuities for any members who have not elected an option. If you have not completed your paperwork and do not wish to have an annuity purchased using your pension account balance, please complete it as quickly as possible.  At this point, members will not have enough time to apply for a purchase in another pension and should be transferring locked -in amounts to a LIRA.  To reiterate, purchases in another pension can still be done directly from a LIRA, so there are no significant negative consequences to using a LIRA in the interim.  Final payouts are still pending final approval from FSRA, which is expected to be received sometime in the mid to late fall.

For current employees of the University who have chosen a LIRA already and wish to make a CAAT purchase in the future, the University has developed a consent form to provide earnings information to CAAT, available at CAAT Consent Form.  By providing your consent to share your earnings information, you will allow the University to do a bulk purchase application for any employee interested, rather than having to apply for a CAAT DBPlus purchase yourself.  The University hopes to send the bulk purchase application to CAAT around September 30th, but this could be extended if the wind up is delayed at all.

July 15, 2025 Update

Notices about recent plan amendments have gone to all members of both plans who were active at the time we stopped making contributions to the legacy plans and started making contributions to CAAT.  Plan amendments are almost always registered after the changes have been made, and this was no different.  In this particular case, the change was to stop contributions.  This was required as a result of joining CAAT and as a result of collective agreements with our unions.  This notification is required by FSRA and in no way affects anything related to the wind up.  No action is required by any members, past or present.

July 10, 2025 Update

The wind up process is still ongoing and there is continued communication between Eckler and FSRA, still with no clear date for final disbursement of funds.  At this point we are continuing to accept paperwork for transfers out of the plan, and will continue to do so as long as possible.  If you have not completed your paperwork yet, please do so as soon as you can.  

The Manager of Pension Services will be away the following weeks: July 12-21, August 2-10, August 16-24.  Please continue to remit paperwork by mail or fax (204-988-1589) during these periods, or email is still fine and will be processed shortly after these breaks.

Lakehead University will be preparing a bulk purchase application close to the end of Summer (tentatively September 1).  If you would like Lakehead University to send your earnings information to CAAT for the purpose of making a purchase application on your behalf, please provide your consent sometime during the summer using this link: CAAT Consent Form

This will replace the need to submit individual application forms and is ideally suited to anyone using a LIRA to hold funds prior to making a purchase.

June 26, 2025 Update

There will be a CAAT webinar held on Wednesday, July 9 at 11am on making a CAAT DBPlus Purchase as part of the ongoing wind up education process.  CAAT has been asked specifically to provide details on how to make a purchase from a LIRA, among other options, as many of our members are using a LIRA to hold their pension funds.  You can register for this webinar by following CAAT's instructions:

1.    To register, click on the registration link
2.    Fill in the online form with your name and email address and then click “register”
3.    You will receive an email with instructions on how to join the webinar at your scheduled date/time
4.    On the date of your webinar, refer to the email you received and click “join” at your scheduled time
5.    Please join at least 10 minutes in advance of the start of your learning session  
Link: https://attendee.gotowebinar.com/register/6239324315442004320

This session will be recorded by CAAT, and they will provide us with a recording one week after the session.  We have also booked "viewing rooms" on both Campuses.  In Orillia, please visit OA2010 to view this webinar and in Thunder Bay, AT2021.  Rooms are booked on a first-come, first-served basis and are exclusively for the use of viewing the webinar.  Please note using this option will limit your ability to ask questions to CAAT directly.

June 18, 2025 Update

Reminder emails have now gone out to anyone that Eckler does not have a record of receiving paperwork from.  For most, this is simply a reminder and extensions can be given if we're aware that you're actively working on paperwork.  For some, however, paperwork was sent in several weeks or even some months ago and never received by Eckler.  This could be due to any number of unfortunate events involving the postal service or other factors, but it needs to be addressed on a go forward basis.  If you're one of these people, it's possible we'll have to resubmit your paperwork.  Please contact Pension Services as soon as possible to either send along electronic backup copies of your paperwork or request new paperwork electronically.  As always, Pension Services has the ability to upload electronic documents to Eckler directly and securely and bypass the mail service completely.  As there is a higher than normal volume of inquiries as a result of these emails going out, please allow a few days response time.

May 23, 2025 Update

It seems at this point that we've dodged a postal strike, though this could change at any moment, and delays are still expected.  Full article here: https://www.ctvnews.ca/business/article/canada-post-union-calls-for-halt-to-overtime-as-deadline-passes-with-no-agreement/

The Office of Pension Services is still offering to accept all paperwork, review it and upload it securely to Eckler.  You or your financial institution can send it electronically, and many financial institutions are set up to do this with secure or encrypted email services. You can also deliver it by hand directly (by appointment), or entrust it to Financial Services' Administrative Officer.  Interoffice works just as well.  Please note that at this point, the most common error we're seeing is Section 3 of the Spousal Declaration.  The first checkbox indicates that your pension is subject to division and assignment (belongs in part to a former spouse), while the second indicates it is not.  In most cases the second checkbox is the correct one, as the first will trigger delays and requests for other documentation related to a separation, domestic contract, etc....

May 13, 2025 Update

Please note, a few people have been told by their financial institutions that they cannot make a CAAT purchase after transferring to a LIRA.  This is incorrect.  Though the Office of Pension Services has attested that current CAAT members have this right, and has received this information directly from CAAT's employer liaison, from printed material, and from online material, some institutions are still providing our employees with incorrect information.  We invite you to call CAAT directly at any time at their toll-free number, 866-350-2228, provide your member ID, and ask the same question, and you will receive the correct response about making a purchase from a LIRA.  Please note, though Lakehead University doesn't promote or advise to use any specific investment product or institution, you should also feel free to inquire about CAAT's LIRA and RRSP solutions through their GrowthPlus Platform. 

**Addendum to update: Some members and financial institutions have been inquiring about the postal code on the return envelope.  Though it is not the same for the return address as using Canada Post's online lookup service, M2N 9Z9 is indeed a valid postal code specifically assigned to Eckler for enhanced tracking purposes, and your mail will arrive correctly using this envelope.  In the event of a postal strike, however, please note that Pension Services will be accepting electronic copies of all option packages and uploading them to Eckler securely.  Please contact Pension Services directly.

May 5, 2025 Update

As we're starting to see more and more people completing their paperwork we're discovering that it is MUCH easier to transfer account balances to a LIRA first, then make a CAAT purchase directly from the LIRA afterward, in cases where account balances exceed the maximum purchase amount (or could possibly grow to over the maximum if investment returns are positive in 2025).  We've learned that this methodology allows members to receive assistance from their financial advisors with otherwise complex paperwork, and provides some additional time to explore both the process and the impact of making a CAAT purchase without worrying about deadlines and purchase quote expirations.  It also prevents the need to prepare for 2 transfers for those people who have account balances in excess of the maximum that CAAT will accept.  Once the funds are in a LIRA, a CAAT purchase can be done easily and quickly, in any amount up to the maximum, and in your own time.  To assist with navigating this decision, I've also recorded a brief walkthrough of how to find and use the CAAT purchase tool, found on the main Pension Services page.  You should also have received an email from CAAT directly advising about upcoming webinars, one of which is about making a purchase on May 7th. 

April 28, 2025 Update

The recording of the information seminar held on April 25, 2025 is now posted on the Pension Services home page and is publicly available without login credentials.  Though the information was delivered primarily to current employees, much of the same information applies to all former members who have received option packages as well.  Simply substitute any references to our new pension plan with your own employer's pension plan.  Thanks to all who attended online or in person, we tracked over 550 registrations across the two webinars, which is a tremendous outcome. 

April 15, 2025 Update

Requests for assistance with paperwork and other inquiries have increased sharply in the last few days and Payroll and Pension Services is working diligently to address these.  However, the volume of inquiries means that turnaround times could be a few days longer than you've been accustomed too.  Regardless, all inquiries will be addressed as soon as possible. 

With regard to CAAT purchase requests, CAAT has informed us that their service standard for returning purchase requests is 30 days, and the purchase maximums will be valid for 90 days after that.  Please be aware of these time horizons when preparing your paperwork.

CAAT has also recently sent out information about upcoming webinars, one of which is specifically about making purchases, and coming soon on April 24, 2025.  Please use this link to further explore these webinars and ensure you're looking at the information for DBPlus rather than DBPrime. 

https://www.caatpension.ca/members/planning-your-retirement/member-presentation

April 11, 2025 Update

Pension option packages have started to arrive in homes.  If you do not receive yours within the next week or two, please reach out to Payroll and Pension Services to request it.  At this time, members are encouraged to use these option packages to facilitate discussions and obtain professional advice. 

March 25, 2025 Update

Effective March 31, 2025 any new transfer authorization requests will be held until the wind up is completed, so possibly September-November.  This is mandatory for submitting the required filings to FSRA in order to complete the wind up.  Any authorizations that have already been sent in with the paperwork completed in good order will still be processed in April. This will mostly affect former employees that still have account balances in our legacy plans who are trying to transfer them out during the wind up period.

Any retirements that have been officially declared and submitted to HR will still be processed as if they were not part of the wind up, and without delays.  For example, a June 30 retirement that was declared in September of last year with paperwork received in good order by June 30 will be processed within the usual 60-day timeframe without regard for the windup.  Any retirements submitted after the January 31 stated deadline, for example an ad hoc May 31 retirement with short notice, will be delayed until all payouts are processed in September-November.

March 11, 2025 Update

In consultation with the Office of Payroll and Pension Services and Eckler Ltd., the LUFA Pension Committee has developed communication for its members about the timeline of events regarding the Combined Plan asset transfer and individual member options.  The LUFA Pension Committee has volunteered to share this communication with the University community in order for all to benefit from the information.  You can access the communication, plus a graphical representation of the timeline itself here:

• Explanation of Events
• Graphical Representation of Timeline

Members are encouraged, as always, to educate themselves on all aspects of the wind up, but are especially encouraged to draw their attention to two events in particular, which are when option packages arrive in homes, and when individual account balances are transferred out of the plan, as these two events require member involvement/oversight.

February 20, 2025 Update

In ongoing planning with the Actuary, we now have an estimated timeframe for option packages to hit homes, which is planned for early April, barring any regulatory delays.  We have also estimated that the transfers of individual account balances could happen sometime in September or October, also barring any regulatory delays. This means that plan members will have plenty of time to weigh their decisions and work with their financial advisors before needing to send in their paperwork, an estimated 150 days from the time they receive their option packages until an account balance will be moved out of the plan.  The University is also planning to offer some information sessions and recordings of these sessions around the same time that option packages are sent out, to assist the University community in understanding their options.  Please note, these will be information sessions on the plan wind up, not on making a CAAT purchase.  CAAT is a third party provider and offers their own information sessions, webinars, and recordings, available to all CAAT members through their member portal.  In the meantime, please continue to monitor this page and the FAQ page for updates.

January 8, 2025 Update

Asset transfer and wind up notices have started to arrive at homes now that the postal strike is over.  No action is required by any plan members at this time, these notices are required by the regulator to move the wind up process along.  Option packages are still expected to hit homes towards the middle of 2025.  An FAQ resources has been developed to answer ongoing questions that plan members might have, available here.

October 18, 2024 Update

Filings and regulatory processes are underway to create a third pension plan to facilitate a windup.  The Actuary expects plan wind-up to be completed sometime in the second half of 2025 and members will receive option packages at that point. 

June 26, 2024 Letter from Eckler Ltd.

We are writing to you on behalf of Lakehead University to advise you about some upcoming changes to your pension plan arrangements from the Lakehead University Employee Pension Plan and the Pension Plan for Professional and Administrative Staff of Lakehead University.

In collaboration with employee representatives, Lakehead University has agreed to wind up the Plan.  However, due to restrictions in the Ontario pension legislation, the Plan cannot be fully wound up at this time.  Therefore, a new registered pension plan will be created and the defined contribution (“DC”) account balances will be transferred to the new plan.  Once the DC accounts have been transferred, the new plan will be wound up and you will be provided with a pension option election form setting out all of your options and relevant amounts.

We will continue to communicate with you, including providing you with notices as required by law, as this process progresses.  In the meantime, if you have any questions, please send an email to Clint Mason at crmason@lakeheadu.ca or call 807-343-8010 x7287 or Tara Schaan at tschaan@eckler.ca or call 204-988-1582.