Year-End Checklist

As a new year approaches, we reflect on how our year went, make resolutions, and set targets to make productive changes in our daily lives. The end of the year is a good time to plan for the upcoming year, have a year-end checklist, review your personal/financial goals and update your records.

Here are five easy goals to add to your year-end checklist when it comes to your pension with the Teamsters Canadian Pension Plan (TCPP):

1. Keep your annual TCPP pension statement in a safe place.
2. Double-check that your contact information (home address, email, and phone number) is current with your divisional administrator.
3. Review your designated beneficiaries and spousal information, if applicable, on your annual pension statement.
4. Review the different sources of your retirement income and know how much and when you can receive:
   o Your pension from the TCPP,
   o Your government programs, such as the Canada/Quebec Pension Plan and Old Age Security, and
   o Your personal savings, like an RRSP or TFSA
5. Check out the TCPP website for various videos, articles, and quizzes on retirement planning. Ask your divisional administrator if you have any questions:
   https://teamsterspension.ca/contact-us/

There are many additional checklists online that you can find and use to expand your personal checklist. This is the retirement financial checklist from the Government of Canada: https://www.canada.ca/en/financial-consumer-agency/services/retirement-planning/retirement-checklist.html

No matter our age or how close or far we are from retirement, planning for it is essential. The biggest risk we all face in retirement is not having enough money in our retirement years. Start planning now so that you are better prepared when you retire.