DB Plan closure takes effect

On 31 December 2019, the DB Plan closed to future accrual. All active members of the Plan have become deferred active members, whose pensions will remain in the Plan until they either reach retirement or transfer out their benefits.

Deferred active members have been automatically enrolled into the Caterpillar Defined Contribution (DC) Pension Plan, to begin building up DC benefits from 1 January 2020.

These changes were agreed as part of a consultation with active members and do not affect existing deferred and pensioner members of the Plan. The DB Pensions Administration Team will continue to issue regular updates about the Plan’s funding position, so please continue to visit this website for the latest news.

Please ensure you complete a separate Beneficiary Nomination Form for both the DB and DC Pension Plans.
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