Pension plans help you save for the future and meet your retirement goals. It’s important to maximize your pension in a defined contribution (DC) plan, so you can make the most out of your pension and get the best results.

Tips to help you maximize your pension:

• Join your company pension plan
  • It’s important to invest in your future and joining your company pension plan is a great way to save for retirement.
  • Take advantage of this opportunity to help you meet your financial goals upon retirement. 
• Put in the maximum amount
  • In a defined contribution plan, the employer will set the employer and member contribution rate.
  • It’s a good idea to make the highest pension contribution that your plan allows, if you can afford to. In some plans, the employer will match up to a certain amount of what a member contributes.
  • Understand what your plan says, so you are putting as much as you can towards your retirement.
• Make sure your investments are the right fit
  • Make sure you are comfortable with your pension investments.
  • Most plans offer a selection of funds, and the most suitable investment option will depend on factors such as how long you have until retirement and your risk tolerance.
  • Consider obtaining financial planning advice from a qualified advisor.
  • Your plan administrator can also answer questions about your pension plan and available options.