If you have a defined benefit pension plan from your company, this is most likely a big part of your retirement plan.
However, there are many things you need to consider before depending only on your company for your post-retirement bills. To begin with, how secure is your company; will they be in business for 30 years? What age do you think you will live to? Can you opt out and build your own retirement “pension package” using preferred shares and corporate bonds?
In the following video, I discuss pension decisions with Financial Post columnist, Jon Chevreau. It is a couple of years old, but contains relevant, timeless information:
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