Important announcement for all young workers/new hires at GM. Sharon Eto from Great West Life will be doing presentations about your Defined Contribution Pension plan.
Sharon came to the Union Hall to do a Planning For the Future Course for young workers a few years ago and made an excellent presentation. Our members that attended were surprised to learn what the potential value of the DC pension was, how quickly it can grow and the retirement income it can provide.
This is a great opportunity for you to learn about your pension plan, how to maximize the benefit by making the optional contribution. Sharon will explain the different options you have and show you how to log on and navigate the website.
This year’s theme is “Managing your Defined Contribution Plan”. These sessions will review the roles and responsibilities of DC plan members. The following topics will be discussed at each session:
- Importance of member contributions
- Plan maintenance – beneficiary changes
- Keeping on track to reach your retirement goals
- How to turn DC funds into a retirement income stream
- Q&A
There are three Hourly Sessions which will take place at GM St Catharines in the Engine Theatre.
No pre-registration required to attend.
- Thursday, November 14th 2019 – Hourly Session – 6:45-7:45 AM
- Thursday, November 14th 2019 – Hourly Session – 3:00-4:00 PM
- Friday, November 15th 2019 – Hourly Session – 1:00-2:00 PM
HANDY TOOL
If you click on the following link https://www.smartpathnow.com/ then select contributions calculator you can enter you age, income, contribution rate and project the value of the pension, its an interesting tool for you to use. (I should point out that the calculations use certain assumptions rate of return which is difficult to predict) but it does give you a good insight into the potential value.
We encourage you all to attend.