Pension Perspectives online at www.peba.gov.sk.ca

Spring 2014

This is the second in a two-part series on competing financial priorities and what aspects to focus on depending on your age.

Is your financial future headed down the right path? Our team of Retirement Information Consultants (RICs) are CERTIFIED FINANCIAL PLANNER professionals who suggest you focus on these five areas in your forties, fifties and beyond – keeping you on track as you get closer to your retirement goals.

1) Envision your futureAre you considering or have you already set a retirement date? Check your account balance and transactions in PEPP Access, and while you’re in there, jump into PEPP’s retirement planning tool – Retire@Ease.

This easy to use, secure tool will give you a snapshot of your financial future. You can create a simple scenario using only your PEPP account balance, or you can get a very detailed projection by adding in your expenses and other expected sources of retirement income.

2) Review your prioritiesIt’s important to have a written plan to help achieve your goals, and to revisit it as you move through life. Financial priorities change. Whether you’re planning to do home renos, help your kids with tuition costs, or care for elderly parents, it’s important to have an up-to-date plan in place to make sure you’re saving enough to achieve your goals.

It’s also a good time to review your pension contributions to ensure they are invested appropriately. It’s common to move towards a more conservative asset mix as you get closer to retirement. As well, consider making extra pension contributions by payroll deduction.

3) Stay on top of debtBe smart with credit cards and your line of credit. Keeping your debt low will ease your financial shift into retirement. It’s important to pay down high interest loans and credit card balances first.

4) Protect your nest eggFinancial planners suggest you set aside three to six months of living expenses in a rainy day fund, to help pull you through unexpected situations, while protecting your retirement goals.

Consult a professional to update your will, power of attorney and health care directive. Keep documents safe and let others know where to find them. Insurance against the unexpected (disability or sickness) will provide a further safeguard for your savings.

5) Take a test runPractice living within your predicted retirement budget to avoid under-estimating your expenses. This will allow you the opportunity to review your spending habits, and ensure that you are being financially realistic with your goals.

Keeping these five areas on track will smooth the transition to retirement.

Five ways to help you stay on track in your 40s, 50s and beyond

perspectives pension

Public Employees Pension Planc/o Public Employees Benefits Agency1000 - 1801 Hamilton StreetRegina SK S4P 4

In Regina: 306.787.5442Toll free: 877.275.7377Web: www.peba.gov.sk.caEmail: pepp@peba.gov.sk.ca

This newsletter provides general information about the Public Employees Pension Plan and its operation. It does not replace or supercede the legislation governing the Plan.

Public Employees Pension Planc/o Public Employees Benefits Agency1000 - 1801 Hamilton StreetRegina SK S4P 4W3

In Regina: 306.787.5442Toll free: 877.275.7377Web: www.peba.gov.sk.caEmail: pepp@peba.gov.sk.ca

This newsletter provides general information about the Public Employees Pension Plan and its operation. It does not replace or supercede the legislation governing the Plan.

Is retirement on the horizon for you? We can help!Planning is key to a successful transition into retirement and as a PEPP member, you have access to a variety of valuable tools and resources. One of the most popular is PEPP’s RetireWithEase workshop.

Whether you’re in your forties, fifties or beyond, it’s never too early to attend this free workshop. Here are the main areas covered:

• Assessing your current situation

• Understanding the retirement planning process

• Helping you envision your retirement

• Guiding you to make a plan

Over and over, members tell us how valuable this workshop is to them as they prepare for retirement and how they wished they would’ve attended sooner.

You can attend the RetireWithEase workshop more than once, plus you can bring your spouse or partner along.

Check the PEPP website for dates and register today. Your retirement will be here sooner than you think.

GETMORE OpportunityPEPP Steps

GuidanceR@E Upgrade

DiversificationInvestment Tweaks

OptionsNew Funds

Choice Make a Choice

FALL 2012 SUMMER 2013 SUMMER 2014 FALL 2014

Fund changes coming soonThe GET MORE initiative was launched in 2012, with five major changes over two years. This included changes to PEPP Steps and the introduction of the PEPP Guidance withdrawal option within the Retire@Ease tool, which are now complete.

The focus of this initiative is to offer members the opportunity for improved returns and to reduce risk over the longer term.

This summer, we will provide more information around diversification and new fund choices.

In your twenties or thirties? PEPP also offers a free half-day workshop just for you. Visit the PEPP website for upcoming dates for “Kick Start Your Financial Future.” It’s jam-packed with helpful information to help you build a solid financial plan.

We have a new look! Spring is a time for renewal and that’s true for PEPP too. We have unveiled a new PEPP logo and will refresh membership materials over the coming year.

Decrease in fund transfer fees... whaaat?PEPP charges an administration fee if you transfer your funds more than twice in a fiscal year. Good news! We’ve reduced those fees.

The $40 fee for fund transfers using PEPP Access has been eliminated – all transfers completed on PEPP Access are now free. The fee for members who request a transfer using the Investment Option Changes form will be $30 instead of $70, if they exceed the two free transfers per year.

A full listing of transaction fees is available on the PEPP website under the ‘Publications’ tab.