November is Financial Literacy Month!

November in Canada means Financial Literacy Month!

This year’s theme, “Managing Your Money in a Changing World,” is focused around helping Canadians plan and prepare for a financially secure future.

At Provident10, that’s exactly what we do – plan for your future!

As part of that planning, it’s important we maintain an open dialogue on financial wellness and planning. It’s through these conversations that we gain the knowledge, skills, and confidence that can positively impact our future.

In keeping with this year’s theme, we’ve highlighted three areas to help you better understand your pension and the benefits that come along with being a member of the Plan, as well as some additional resources to support you in your retirement planning.

We think about and plan for your financial future all day long. And while you can rest assured, knowing that you’re in good hands, we want you think about it too.

Our Investment Strategy

As this year’s theme suggests, the world is changing. It’s how we navigate these changes that truly matters. 2022 will forever be marked by unprecedented rates of inflation, rising interest rates, geopolitical uncertainty and the continued impacts of the pandemic. Despite this significant volatility throughout 2022, we navigated the unpredictability, outperforming our broader market benchmark to deliver strong results for our members.

Our investment strategy is built for long-term results. It’s about sustainable performance that goes beyond today and focused on the years and decades ahead.

Learn more about our strategic asset mix and how it impacts the Plan’s performance over time.

Mark Strangemore, VP Investments, Provident10

How to Navigate Life Changes

One of this year’s subthemes of Financial Literacy Month is, “What to do in a financial emergency – When dealing with exceptional circumstances, get the right information and advice to help you make the best decisions for your financial circumstances.”

Did you know that we have dedicated an entire section of our website to helping you navigate life changes, and the implications of these changes on your pension?

We understand that life can be unpredictable. Whether you are getting married, experiencing a separation, moving to a new house, or experiencing loss, we’re here to support you every step of the way.

Additional Resources to Help You Prepare for Retirement

When it comes to preparing for retirement, there’s so much to consider! We’re here to support you in the decisions you make.

Wondering what your pension benefit will be? Try our online pension calculator to receive an estimate. The Government of Canada also has a Canadian Retirement Income Calculator to give you an idea of how much money you might need in retirement.

Did you know that as a current member of the PSPP there might also be opportunities for you to enhance your pension benefit? That’s right! If you’ve been previously employed and contributed to another registered pension plan, you might be eligible to transfer service to the PSPP! There are also possibilities for purchasing eligible service after authorized leaves of absence without pay, and more!

You can also enhance your retirement planning knowledge by taking the Retirement Savings Course offered by ACPM.

Whether you’re just getting started in your career or retirement is on the horizon, it’s important that you have all the information and resources to make informed decisions. And as always, we’re here to help.