Retirement can seem like a lifetime away in your twenties; a time of adventure, self-discovery, and career-building. However, it’s never too early to think about your future, and how your pension is the star of your retirement plan. Read on for all the reasons a defined benefit (DB) pension plan is your partner in building a secure retirement future – even in your 20’s.

• Time is on your side

When you're young and enrolled in a DB pension like CAAT’s, time becomes a valuable ally. Starting earlier means you have more years of employment ahead of you and more time to build your pension. A larger pension means more annual retirement income and that can mean more financial security and stability for your next chapter.

• Canadians are living longer

Life expectancy has increased in the last few years and that means Canadians are living longer. Overall, this is of course a great thing, but it also means its harder to estimate how much money you'll need for retirement. Answering the question of ‘how much money do I need if I’m retired for 30 years?’ is a hard one. But with a DB pension your planning is so much easier. Your pension is built to last as long as you do, which means a regular monthly deposit into your bank account as long as you live – you don’t need to worry about running out of money in your later years.

• Flexible retirement options that mean you can retire early

With CAAT, you can retire at the time that is right for you. Members have a range of retirement dates to choose from – as early as age 50, up to the year you turn 71. You don't have to worry about timing your retirement with how your investments are doing or what you’ll do if your money runs out – you'll know exactly what your pension will be. This means potentially saying goodbye to the regular 9-5 sooner than expected.

• Peace of mind

One significant benefit of having a DB pension plan early on is the peace of mind it brings. It can sometimes feel like as soon as you enter the workforce, you’re bombarded with questions and statements about how you will save for retirement and how this will get done. The comfort of being in a DB pension plan like CAAT is that you are building your pension while you work and your employer is also contributing on your behalf. You can enjoy the present with the reassurance that you are on track for a secure tomorrow.

As a member of the CAAT Pension Plan, you are already on the right path as you are building a secure lifetime retirement income. The best part is, you don't need to stress about investments or a fluctuating account balance. Trusted professionals expertly manage your pension, ensuring its growth and security, so you don’t have to.

But that's not all your CAAT pension offers. There are numerous other valuable retirement features. To discover how your pension can support your retirement dreams, take the Pensionality quiz now!