How am I going to spend all of my free time? Will my relationship with my spouse change because we're together more often? What will my health be like in the years to come?

These are all important questions to ask yourself. Another big factor to consider is your finances. With people having more active lifestyles and living longer, it's also important to ensure you can maintain a comfortable financial lifestyle for years to come.

Your Ontario Teachers' pension will provide a predictable monthly income for life. But make sure to look at how it fits into your larger retirement picture. If you haven't already, sit down with a financial planner to help plan your retirement. In the meantime, check out this section to see if you're on track.

Don't wait too long to start collecting your pension

You must begin collecting your pension in December of the year in which you turn age 71, even if you continue to work.