SPP members may begin receiving benefits from the Plan any time after age 55 and must be retired from the Plan by the end of the year in which they reach 71. At SPP retirement simply means you are receiving pension payments. You can still be employed and receive pension from SPP.

You must apply to start receiving your SPP pension and the forms to do so are available by contacting SPP.

You may choose an annuity from SPP and receive a pension for the rest of your life, transfer the funds to a locked-in account with a financial institution or choose a combination of the annuity and transfer options.

Individuals choosing the combination option have the security of regular, stable income from the annuity and flexible investment options for the funds transferred to a LIRA or prescribed RRIF.

Key Benefits

• Lifetime income in retirement
• Several annuity products available
• Transfer options available (LIRA, prescribed RRIF)

If your account balance is small you may be able to have your account paid to you in a lump sum instead of receiving monthly payments.