Just starting your career? Take control of your financial future

Learn more about your retirement now—your future self will thank you

When you’re just starting your career, saving money can be challenging. But as a member of the Municipal Pension Plan, you are not alone on your retirement journey:

Every time you contribute to your pension plan, your employer makes a contribution.
Your contributions are pooled with the contributions of other plan members and invested by the plan’s investment agent, British Columbia Investment Management Corporation; approximately 75 cents of every pension dollar is paid by investment returns.
Trustees oversee the plan to make sure it remains strong and secure, now and into the future. Their work is guided by provincial and federal legislation and industry best practices.

Life events and changing jobs

If you’re just starting your career, you’re likely to experience life and career changes in your near future.

Your plan has options to help you save for retirement through these changes. For example, if you’re planning on taking a parental or adoption leave, you can buy service for the leave. Buying service may increase the monthly pension amount you receive when you retire or allow you to retire with an unreduced pension earlier.

Over the next several years, you may change jobs. There are options for that, too. If you take a new job with an employer that participates in the plan, you’ll remain an active member. If your new employer doesn’t take part in the plan, you may be able to bring your pension with you if they have an agreement with the plan. You can also choose to leave your pension contributions with the plan. Your money will be there for you when you retire.

Take action

Thinking about retirement can be daunting when you’re busy paying off debt or saving for a home. But doing some retirement planning sooner rather than later can pay off in the long term. Simple things you can do right now to learn more about your pension and to help plan for your future include: