Change server encoding after the fact

I would like to change my server_encoding which is currently SQL_ASCII to UTF8.

I have existing data that I would like to keep.

From my understanding of the steps I need to:

1) alter the template1 database encoding via

UPDATE pg_database SET encoding = 6 where datname IN ('template0', 'template1');

2) Dump my current database

pg_dump -Fc foo > foo.db

3) Drop my current database

drop database foo;

4) recreate it with the proper encoding

create database foo with template = template1 encoding = 'UTF-8';

5) restore from backup

pg_restore -d foo foo.db



Are these the correct steps to perform or is there an easier / in-place way?

Also, when I dump my old DB and restore it, will it be converted appropriately (e.g. it came from am SQL_ASCII encoding
andits going into a UTF-8 database)? 

Thank you

/Cody