Managing your savings
over time
It is your responsibility to monitor and manage your savings over time, and make changes, if needed. The decisions you need to make depend on whether you are managing the DB or Non-DB options.
Optional DB
The Optional DB is more hands-off, since Johnson & Johnson makes all investment decisions, and you contribute a set percentage. The only decision you make is whether to participate or not — the rest is taken care of.
Non-DB Options
You have more decisions to make when it comes to your Non-DB options. You choose which options to participate in, how much to contribute, and how to invest your accounts. Since your final account balances will depend on investment earnings, it is important to monitor your savings regularly and make adjustments, if needed.
Options
You can choose from different Non-DB options: DC, RRSP, OAC, TFSA and Non-registered. Each plan comes with different features and benefits. You can change the options you participate in as your needs change — for example, you might be more focused on shorter-term savings options early on in your career, and more focused on saving for retirement later on.
For a comparison of the plans, click here.
Contributions
You choose how much to contribute to the Non-DB options, and you can change your contributions as your financial situation changes.
Johnson & Johnson matching contributions are tied to your contributions, up to a maximum: this means that the more you contribute, the more Johnson & Johnson also contributes (up to a maximum). Make sure to take full advantage of matching contributions — it’s like free money!
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Investment decisions
You decide how to invest your Non-DB accounts. Investment options include:
Target date funds that align with your intended retirement year.
See a full list of investment options on the FYB Portal > Pension & Savings > Manage Investments > Change Investments
Retirement planning tools
There are many tools available to you to help you make the most of the Pension & Savings Program — be sure to take advantage of them to maximize your savings!
Pension Projection tool:
See how much DB pension you could earn at different retirement dates. You can run three retirement dates simultaneously to compare your retirement income at different ages. You can also see how a change in salary would impact your retirement income. Easily save or print your results to review with your spouse/partner and/or a financial advisor.
Retirement Income Calculator (RIC):
Review your estimated retirement income from the program, with the option to add in any personal savings you have in accounts like an RRSP or TFSA. You can set a retirement income goal and determine what your annual income in retirement will be.
Investor Questionnaire:
Answer questions related to your savings goals and tolerance with investment risk to determine the right investment options for you.
A financial advisor
It can be beneficial to consult a personal financial advisor if you need additional support and/or guidance for your big picture retirement savings plan. If you don’t yet have a financial advisor, you can find one here .
