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Walk into retirement with a plan! Starting to plan for retirement?
This exciting transition also comes with a lot to consider.

Join OTIP and Educators Financial Group for a free retirement workshop where you’ll learn more about:
• Streams of retirement income and solutions to fill any gaps to help you make the most of your retirement (Pension, CPP, OAS, etc.)
• The importance of proper financial planning for your retirement, and what you need to know when creating your estate plan
• Managing your healthcare, drug and dental costs by choosing the best coverage to fit your needs. Don’t settle for a “one size fits all” approach to your health
• Travelling worry-free with emergency medical coverage, trip interruption/cancellation, and 24-hour emergency assistance
• Exciting health and wellness support programs, and ways to save money while doing the things you enjoy most
• Protecting your loved ones, your home, and other possessions for when the unexpected happens

This free workshop is open to members and spouses.
As a courtesy, refreshments will be provided when possible.
Please note any dietary or accessibility requirements at time of registration.

April 10, 2024
4:30pm-7:30pm
The Best Western, Owen Sound
1800 2nd Avenue, East
Register online at: otip.com/events

​Financial Planning in Retirement 
Financial planning can help you get the most out of your money and reach your goals after you retire. Need help? Find financial planning basics below, and information on OMERS-related issues including tax and your OMERS pension, and survivor benefits.



The Basics
Your financial plan should also examine healthcare, lifestyle, insurance and estate planning issues. Your plan will need to be re-evaluated from time to time to account for major life changes, such as health or marital status.


Tips
  • Consider consulting an expert, especially if you have doubts about your finances. FP Canada Opens new window has information about financial planners, their services, qualifications, and how they are paid (e.g., does the planner charge a fee for service or do they receive a commission for selling a particular product).
  • Think through your plan, write down your goals and create a timetable for them: travel, renovations on your home, paying down debt, buying a new car, or saving for the future? How do you see your life in five or 10 years?
  • Evaluate your insurance needs to make sure you are not under-insured or over-insured.
  • Manage credit carefully to keep it from becoming a personal liability. Pay off high-interest debt first (e.g., credit cards), and shop around for credit products.
  • Know the rules for government programs. For example, income-tested benefits from programs such as the Guaranteed Income Supplement (GIS), the Allowance, and provincial social assistance will take your total income into account, including your OMERS pension.
  • Investigate tax benefits to take full advantage of all credits and deductions available.
  • Have a power of attorney in place, so the appointed person can look after your financial affairs or health care decisions if you become unable to. Pension-related issues require a continuing power of attorney for property. Be sure to send OMERS a copy of the power of attorney document.