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How Long Will Your Retirement Money Last?

Released on November 28, 2016

The Financial and Consumer Affairs Authority (FCAA) wants to remind people to think about whether their pension plan income will be enough upon retirement.

“The sooner you sit down and figure out your retirement plan, the better shape you’ll be in,” FCAA Pension Division Director Leah Fichter said.  “Sometimes life can take unexpected turns, but the more prepared you are, the smoother the transition will be.”

It is important to think about all sources of income when developing your retirement plan.  Government benefits such as Canada Pension Plan, Old Age Security, Guaranteed Income Supplement are sometimes the foundation of retirement income.

Don’t forget to include your own sources such as pension plan payments, Registered Retirement Savings Plans or other investments you might have.

 

Here are some questions to consider when creating your retirement plan:

  1. How much do I need?
  2. How long do I need it for?
  3. What are my sources of income?
For more information on retirement budgeting, visit www.fcaa.gov.sk.ca/retirementplan.

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For more information, contact:

Shannon McMillan
Financial and Consumer Affairs Authority
Regina
Phone: 306-798-4160
Email: shannon.mcmillan@gov.sk.ca

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