What triggered the leadership changes at the CAAT Pension Plan?

Questions arose about a C$1.6 million vacation payout to CEO Derek Dobson. In response, CAAT placed Dobson on leave, named Kevin Fahey acting CEO, and appointed a new chair and vice-chair. The plan also faces an Ontario FSRA probe and an external governance review due this month.

Are my CAAT Pension Plan benefits at risk right now?

CAAT says benefits are unaffected, and it reports a 124% funded position. That surplus provides a buffer for obligations. Reviews target governance practices, not pension entitlements. Continue monitoring official CAAT updates for any policy changes, but there is no announced change to benefits at this time.

What does the Ontario FSRA probe involve?

The Ontario FSRA probe focuses on regulatory oversight issues, including approvals, disclosures, and fiduciary controls. It runs alongside an external pension governance review due this month. Findings could lead to policy changes, tighter compensation rules, and clearer board-management lines, but not necessarily benefit changes.

What should employers participating in CAAT do now?

Maintain normal contribution processes and monitor disclosures. Prepare to review governance policies, compensation frameworks, and delegation matrices after the external review. If CAAT issues an action plan with dates and metrics, align internal oversight with those standards to reduce reputational and compliance risk.

Law and Government

February 14: CAAT Pension Plan Puts CEO on Leave, Names New Chair

ByHuzaifa Zahoor February 14, 2026February 14, 2026

The CAAT Pension Plan placed CEO Derek Dobson on leave on February 14 after scrutiny over a C$1.6 million vacation payout. An Ontario FSRA probe and an external pension governance review are underway, with findings due this month. CAAT named Kevin Fahey as acting CEO and installed a new chair and vice-chair. The CAAT Pension Plan says it remains 124% funded and that benefits are unaffected. We explain what this means for members, employers, and anyone tracking pension governance in Canada.