Thinking about retirement


What do you think of when you think about your retirement? Will you spend it travelling, having fun, or finally getting started on some projects? Will you take time for yourself or spend it with others?1

64% of people enjoy retirement because of the freedom it offers.

But to get the most out of retirement you need to plan ahead. You should focus on three main areas: your health, your plans and your finances. If you’re reading this, you’re thinking about your finances. And you’re not alone!

65% of people know that it’s important to plan financially for retirement.

What about you?

Have you started saving for retirement?


Just like 79% of people, you’ve started investing in your future. Are you confident in your savings strategy? Will it let you enjoy retirement for a long time to come?

You’re not alone.

You’re among the 21% of people who haven’t started saving for retirement yet. That may be because you believe:

  • It’s too early
  • It’s too late
  • You can’t afford it

Think again! It’s always a good time to set up a savings strategy for retirement.

Plan for a long retirement

Life expectancy continues to rise. That means your retirement could last an average of 25 years if you’re a man, or 29 years if you’re a woman.

That’s a long time to maintain a lifestyle with no employment income, which is why many people plan to retire gradually or not at all.

7 out of 10 would like a phased retirement

1 out of 10 expects to work their entire life

But that’s not always the reality. You can’t always choose when to retire—life sometimes does it for you, especially if you have health issues or your job requires it.

7 retirees out of 10 stopped working as soon as they could

Do you have an idea of how long you’ll be retired for? Since it could be a long time, it’s important to prepare! Estimate your life expectancy Opens in a new window.Estimate your life expectancy Opens in a new window..


When do you plan to retire?

Your retirement is a long way off, so you figure you’ve got lots of time to think about it. Still, it can pay to take steps today.

A few ideas

Retirement savings strategy

  • Meet with your life and health insurance representative, who will help you determine your investor profile and choose investments that work for you.
  • Decide on your retirement goals and needs.
  • Figure out your short- and medium-term savings needs.
  • Contribute to your group plan—payroll deductions offer instant tax savings.

Support for your retirement savings strategy

Monthly budget

  • Review your expenses.
  • Figure out which debts have higher interest rates and pay them back first.
  • Put aside more for your retirement savings.

Budget tool (PDF, 459 KB) Opens in a new window.

The countdown is on! Retirement isn’t so far away anymore. Create or enhance your action plan today!

A few ideas

Retirement savings strategy

  • Identify your retirement goals and needs.
  • Update your investor profile by answering the questionnaire again to see if your risk tolerance has changed.
  • Use the On Target Retirement tool to see if your target retirement age is realistic.
  • Check with your financial advisor to make sure that your savings strategy is in line with your plans.
  • Attend a retirement preparation seminar offered by your employer or another organization.

Supporting your retirement savings strategy

Log on to the secure site to use On Target Retirement. External link. Opens in a new window..

Monthly budget

  • Identify which expenses should disappear once you retire and see if you can eliminate them now.
  • Come up with an action plan to pay off as many debts as possible, including your mortgage.
  • Put more into your retirement savings.

Budget tool (PDF, 459 KB) Opens in a new window.

Retirement income

  • Ask your employer about the conditions of the group retirement savings and insurance programs for retirees.
  • Contact the Canada Pension Plan or Régie des rentes du Québec to get a statement of the contributions you’ve made to date.
  • Decide whether you’ll apply for benefits before you’re 65 and whether penalties apply.
  • Meet with your financial advisor to discuss where your retirement income will come from and how your investments are doing.

Retirement is just around the corner. If everything goes according to plan, the next few months should mainly involve finalizing the details of your retirement. It’s not too late to come up with an action plan or adjust the one you have!

A few ideas

Retirement income

  • Ask your employer for an assessment of your income from your defined benefit group retirement savings plan.
  • Determine how much you’ve saved for retirement. Meet with your financial advisor to discuss your retirement income strategy and know what options are available.

Retirement budget

  • Identify your new financial priorities and income sources.
  • Make sure your target retirement date is realistic.

Retirement budget tool (PDF, 245 KB) Opens in a new window.

Health insurance

  • Find out from your employer if you can keep your group insurance.
  • If you can’t keep your health insurance, talk to your financial advisor about how to replace it.
  • Change your status with the government agency responsible for your provincial healthcare plan.

Start saving now!

Meet with a representative

They’ll evaluate your financial needs and recommend the best retirement planning solution for you.

Learn more

about your Desjardins group retirement savings plan

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  1. Sources of the statistics in this article:
    Self-assessment of progress in retirement planning: survey report presented to the Fédération des caisses Desjardins du Québec by Som Research and Surveys, 2016. 2016 survey on the awareness of issues related to financial independence in retirement (French only) External link. Opens in a new window., Retraite Québec.