Pension Awareness Day on February 19 is a reminder of how important it is to understand and make the most of your pension. Even if retirement feels far away, learning about your United Church pension plan and the benefits it provides can help you and your loved ones build a stronger financial future. The earlier you start planning and saving, the more prepared and comfortable you’ll be when life after work finally arrives!

The Power of Financial Literacy: What you need to know

Financial literacy is more than understanding money — it’s about feeling confident in the decisions that shape your future. Learning the basics now makes it much easier to build long-term financial security.

Know your retirement goals

Think about the lifestyle you want — compare what you spend today with what you might spend once you stop working.

Expect some costs to change — fewer work expenses, different priorities like travel or hobbies, and possible health-related costs.

Use simple planning tools — the Government of Canada’s Retirement Income Calculator can help you estimate future income and expenses.

Attend our Pension Information Seminar - learn about how the plan works, what it costs, what it provides, and how to apply for your pension when you're ready. The next session is February 19 starting at 1:00 p.m. EST.

Understand what shapes your retirement

• When you want to retire and what kind of lifestyle you hope to maintain.
• Whether you’ll work part-time or relocate.
• Any debts you may still carry and whether you’ll have other financial support, such as a spouse’s pension or personal savings.
• Where you plan to live — downsizing or staying put can affect your long-term costs.
• Try tools like checklists or quizzes to help clarify your goals and identify gaps.

Start saving now

• Saving early gives your money more time to grow through compound interest.
• Inflation matters — programs like the Canadian Pension Plan (CPP)/Quebec Pension Plan (QPP) and Old Age Security (OAS) adjust for inflation.
  • Please note - there is no automatic indexing in the United Church pension plan.
• Check how our plan works by visiting the Pension Plan page.
• Use calculators or talk to a financial professional to estimate how much you’ll need.

The Bottom Line

Building financial literacy today sets you up for a more secure and fulfilling retirement tomorrow. Understanding your lifestyle, planning ahead, and using available tools can make a meaningful difference in your future comfort and confidence!