Message from the Chair–November 2021

November is Financial Literacy Month, an important month to highlight. The AOMBT is committed to supporting our members in building financial literacy and financial security. In fact, an important part of building financial security is improving financial literacy, as this enables us to make informed decisions, no matter the vicissitudes of our financial situation.

We all have distinct financial journeys, and there are many points in a career in which financial insecurity can be faced.

For many of us, this exists at entry into the midwife (or other) profession. There may be large student debt or you have recently immigrated and lost years of opportunity to earn. For others, financial insecurity can come from difficulties in their place of work, or from their health, sometimes prompting a leave.

At the AOMBT, we want to support you in being knowledgeable and comfortable in taking charge of your finances. In the context of our work, that means information and support in making the best use of your benefits and investments.

For our members who are midwives, this is a female-dominated profession and as women we face barriers in many areas. As midwives, we know well about the gender pay gap. We also have a gap to close in our financial literacy. This can lead to older women being at a disadvantage economically. This is even more the case for those that experience intersectionality. I aim to bring a feminist and social justice lens to my work as a trustee and financial literacy can be a powerful tool. We are here to help you with that tool, and to ensure that no one is left behind in planning their financial future for their life and family.

For me, going from being a single parent on welfare, to a primary income earner for my family in just a few short years was empowering, but also bewildering. I was fortunate to work with a financial advisor who was engaging as well as competent. With their help, I was able to ensure a well-funded retirement, housed in the AOMBT investment plan with Desjardins.

Some members quickly become conversant with managing both their benefits and their financial planning. But others need some help and may need to do more learning (check out our Resource Library section of the website) or reach out to a financial planner. A good start is to become familiar with what’s available on the Desjardins website.

Also, we have a great new look to our newsletter. We hope the new format will make for a more enjoyable reading experience. As always, if you have feedback, share it with us at info@midwivesbenefits.ca.