Even though he’s only 57, Warren Dodds will gladly tell you he is one of the oldest employees within his department at the Ontario Clean Water Agency – and he has advice for his younger co-workers when it comes to planning for retirement.
The Ontario Clean Water Agency (OCWA) works with municipalities, First Nations communities, businesses, governments and institutions to develop sustainable and healthy water and wastewater solutions. Warren has held a few different positions in his 10 years at OCWA and he’s currently the agency’s security and civil asset specialist for the Municipality of the Region of South Peel.
“I’m the oldest in our department, followed by thirty-somethings,” says Warren. He’s impressed that his younger colleagues seem to appreciate the value of their defined benefit pension plan, even though their retirement is decades away.
Warren would like to see them consider some other aspects of financial planning.
“I think that young people understand that retirement planning is important,” he says. “I just think they have other priorities.
"Having a defined benefit pension plan is a solid base for a secure retirement."
Warren was part of the first group to volunteer to become part of the People for Pensions program. He attended a focus group with OPTrust in late 2016 to offer his thoughts about how the program can most effectively share relevant information about pensions and other information to help people plan for a secure retirement.
About People for Pensions
The People for Pensions program is one of several OPTrust initiatives intended to raise awareness about the overall value of defined benefit pension plans. Research has shown members and retirees of the OPSEU Pension Plan and OPTrust Select place a high value on their pensions, but sometimes plan members are not aware of all of the benefits of their pension plan – and in particular the benefits of having a defined benefit plan versus other kinds of retirement savings vehicles.
The People for Pensions program asks members and retirees of the OPSEU Pension Plan and OPTrust Select to share information with their peers, friends and families about the value of DB plans and how the DB model supports the economy.