Effective December 7, 2010, the annual maximum SPP contribution was raised from $600 to $2,500. This applies to the 2010 tax year.
This increase allows members to make their SPP account a much more significant part of their overall retirement strategy. For example, with the new contribution limit and the Plan's historic average rate of return of 8%, a member who is eligible to contribute for the next 30 years could potentially realize about $294,000 at retirement.
It is important to note that the other key benefits for members do not change. The Plan is:
Please note that SPP contributions are now subject to RRSP contribution rules.
The return address in the email message regarding the limit announcement contained an error. Please send any questions you have to firstname.lastname@example.org.