Released on November 29, 2017
The Financial and Consumer Affairs Authority (FCAA) wants to remind people during financial literacy month that retirement planning is not solely about how much money your pension will provide.
“It’s never too early to start thinking about how much money you’ll need when you retire,” FCAA Pension Division Director Leah Fichter said. “Figuring out if you want to travel, where you want to live, and if you’ll have debt are just some of the factors you should think about.”
When developing a retirement plan, here are some questions to consider:
Make sure to look at all sources of income from government benefits such as Canada Pension Plan, Old Age Security, Guaranteed Income Supplement, and don’t forget to include your pension plan payments, Registered Retirement Savings Plans or other investments you might have.
- How much do I need?
- How long do I need it for?
- What are my sources of income?
For more helpful information on retirement planning, visit www.fcaa.gov.sk.ca/retirementplanning.
For more information, contact:
Financial and Consumer Affairs Authority