Plan now for a secure future
Get a head start on planning for your financial future.
Whether you’re joining the plan at age 24 or 64, now is the perfect time to plan for your financial future. Take advantage of tools and resources today to set yourself up for a secure tomorrow.
My Account offers tools for understanding your pension
Throughout your career, My Account will be your portal for accessing helpful retirement planning tools. These include:
- Your Member’s Benefit Statement, a yearly snapshot of your important pension information
- The personalized pension estimator, a calculator that lets you find out what your pension could look like at different retirement ages
- A summary of your service and salary history
- The purchase cost estimator, which can help you find out the cost and advantages of buying service for time you took off work
Note that when you first start out, not all the features of My Account will be available. That’s because we need to receive information about your service and salary from your employer before tools like the personalized pension estimator or purchase cost estimator can give you accurate predictions. We usually get this information within your first year with your employer.
Pensions: one piece of the retirement puzzle
Your Municipal Pension Plan pension is an important part of your overall retirement picture. However, other sources of income like personal savings and government benefits will also affect your financial health in retirement.
Start thinking about these other income sources now to set yourself up for a secure financial future.
- How sturdy is your retirement income?: Learn about the sources of income that can help you build a solid financial plan for retirement.
- Tax information for active members: Read about how your pension affects your taxes and your RRSP contribution room.
- Just starting your career? Take control of your financial future: Find out the steps you can take today to make things easier for your future self.
Take charge of your finances
If thinking about money leaves you feeling overwhelmed, you’re not alone. Many Canadians feel uncertain about managing their finances. Thankfully, there are resources available to help you strengthen your knowledge and feel confident about your future.
You don’t have to tackle your finances alone. An independent financial planner can guide you through the opportunities and challenges unique to your situation.
- Financial Consumer Agency of Canada: Access services and information from the government of Canada on managing your financial health.
- Financial Planning Canada: Learn about some of the financial planning resources available to you.
Pension pro tip
When it comes to picking a financial advisor or financial planner, choose carefully. Not everyone who advertises themselves as a financial advisor has the same education or expertise. Pay special attention to how your advisor is paid. Advisors working on commission may feel pressure to sell you investments that earn them a higher commission even if that investment isn’t right for your needs.
Pension planning at your fingertips
My Account gives you the tools you need to plan for your financial future. Plus, update your information, name beneficiaries, contact the plan and more.