Joining is Easy

All you have to do to start your SPP Individual Pension Plan is complete an Application Form.
To learn more about signing up and your eligibility, visit Getting Started.

Joining is Easy

All you have to do to start your SPP Individual Pension Plan is complete an Application Form.
To learn more about signing up and your eligibility, visit Getting Started.

10 FACTS ABOUT SPP

  1. Saskatchewan people between 18 and 71 years of age can join
  2. May pay less in taxes each year with this tax-sheltered investment
  3. Choose how often and how much you want to contribute with no minimums
  4. Contribute using lump sums, automated withdrawals, or by credit card
  5. Historical returns of 8%* with less than 1% management fees
  6. Contribute up to $6,300 annually**
  7. Transfer up to $10,000/yr to your SPP individual pension plan from other registered retirement investments
  8. Your spouse can contribute to your account***
  9. Begin receiving pension income anytime from age 55 to December of the year you turn 71
  10. Received income is eligible for the Pension Income Tax Credit and Pension Splitting.

*Past performance does not guarantee future results.
**With available RRSP contribution room; indexed annually.
***Provided they have RRSP contribution room.

Pension Plan contributions are locked in and earn interest until you start collecting funds as pension income. SPP provides a number of options for receiving pension income depending on your readiness to retire and financial plans.

Download the complete guide with all the information you need about SPP membership and how you can join.

Membership Guide

WHAT MEMBERS ARE SAYING ABOUT SASKATCHEWAN PENSION PLAN

CHOOSE THE RIGHT INVESTMENT OPTION FOR THE FUTURE YOU

There’s a fund that’s right for you and your preferred approach to investing. Find out which option fits you.

Learn about Balanced and Diversified Income Fund.

*Past performance does not guarantee future results.

TRANSFERRING MONEY FROM OTHER INVESTMENTS TO YOUR SPP PENSION

You can transfer up to $10,000 per the calendar year into your SPP account from existing RRSPs, RRIFs and unlocked RPPs. Learn how easy it is to transfer.

Learn More

REDUCE YOUR TAX IN RETIREMENT WITH PENSION INCOME CREDITS

When it comes time to start collecting your pension, the first $2,000 is eligible for a Pension Income Credit if your investment remains with SPP as an annuity, or is transferred to a Prescribed Registered Retirement Income Fund (PRRIF). Learn more about the options for collecting your pension after the age of 55.

Learn More

WEALTH CALCULATOR

CALCULATE YOUR SPP WEALTH GROWTH IN SECONDS

Use our Wealth Calculator to get an idea of how much you could potentially save for your retirement if you started now.

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START BUILDING WEALTH FOR YOUR FUTURE RIGHT NOW!

Join SPP Member Requirements

Frequently Asked Questions

Can I take my money out of SPP?

SPP is a locked-in pension plan which means your contributions must stay with the Plan until you are at least 55 years old. In the event of your death, the money in your account will be paid to your beneficiary.

Members may receive a refund of their account if they change their mind within 60 days of their date of application or their first contribution, whichever is later.

What is the difference between SPP and an RRSP?

SPP follows the same income tax rules as an RRSP except SPP is locked-in until age 55. Once you start collecting SPP annuities they are eligible for the Pension Income Tax Credit (you may be able to claim up to $2,000).

You record your SPP contribution tax receipts the same way you would record a regular RRSP contribution tax receipt. Under tax rules contributions to SPP can be used as repayments to the Home Buyers Plan (HBP) and the Lifelong Learning Plan (LLP) – However, withdrawals are not permitted for this purpose.

How much can I contribute to SPP?

SPP Regulations limit members to a maximum contribution of $6,300 each year (current year plus 60 days). The maximum contribution is indexed annually. In addition, you can transfer up to $10,000 per calendar year from existing RRSPs and unlocked RPPs (view Transfer-In for details). There is no yearly minimum and no obligation to contribute on a set schedule.

Check out these quick video about the Transfer in deadline and Contributing to SPP.

Do I have to contribute the same amount each year?

There is no minimum contribution. SPP is designed to be very flexible and to accommodate your individual financial circumstances. How often you contribute is entirely up to you.


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