Getting a Start on Retirement Planning
Don’t let retirement planning get you down. We’re here to help take the stress out of retirement planning so that you can start retirement dreaming.
OPB has the tools and resources available to members to help with the financial part of retirement planning. Our comprehensive and enhanced Retirement Planner builds on pension estimates from your Annual Pension Statement (APS) or our online Pension Estimator in e-services. Together with your other sources of income, investments and savings, the planner provides you with a detailed year-by-year projection of your total estimated retirement income both before and after tax.
Our Retirement Planner is an incredibly useful tool that can help you picture exactly how to achieve the retirement life you want and deserve. Log in to e-services
(opens in a new tab) to create your plan.
Before you start
To create your retirement plan, you’ll need to consider your expected retirement date and the province you plan to live in during retirement. For an efficient planning experience, we also recommend that you collect the information below for you and your spouse (if applicable) before you start.
Income – Your current gross income (before tax) and net income (after tax).
Savings – Statements or estimates from your financial institution(s), including OPB. Include your PSPP estimate, any other Defined Benefit pension you may have, government pensions, such as Canada Pension Plan (CPP), Registered Retirement Savings Plan (RRSP), Locked-In Retirement Account (LIRA), Tax Free Savings Account (TFSA) and general personal savings or investment accounts that you plan to use for retirement income.
Expenses – Once you’ve collected that information, you will need to provide an estimate of your expenses in retirement which the Planner will use to calculate how much income you’ll need. While you don’t require an in-depth breakdown of your current expenses, an overall estimate of what you expect to incur once you commence your pension will help the Planner illustrate how much you will need to meet your retirement goals.