Released on July 24, 2018
The Financial and Consumer Affairs Authority (FCAA) wants to remind people who contribute to a defined contribution (DC) pension plan to review their pension investments.
In a DC plan, employees typically decide how their money is invested, so it’s important to stay informed and make suitable investment choices.
“Be comfortable with your investment decisions and the level of risk involved,” Director of FCAA’s Pensions Division Leah Fichter said. “Choose the investment strategy that is best for you, since retirement income is impacted by how well your investments perform.”
Pension Investment Tips:
For more pension information, visit: www.fcaa.gov.sk.ca/consumers-investors-pension-plan-members/pension-plan-members.
- Review your pension investments periodically. Your pension statement will let you know which funds your money is invested in and how well they are doing through investment earnings.
- Make sure they are the right fit for you. Make sure you are comfortable with your pension investments. Many plans offer a selection of funds, so it’s important to know your options. Consider the length of time to your retirement to choose the most suitable investment option for you. Some plans have funds which automatically adjust investments to safer investments as you age; this option might be ideal for some people.
- Talk to your pension plan administrator. If you are unsure and have questions, contact your plan administrator who will help you find the resources you need.
For more information, contact:
Financial and Consumer Affairs Authority of Saskatchewan