VARIABLE BENEFIT NEWSLETTER
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The freedom to retire on your terms
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Retirement is about stepping into a new chapter of life that’s truly yours. Feeling your best – physically, mentally, and financially – can make all the difference in how you spend your time. Whether you’re travelling, volunteering, spending time with family, or simply enjoying slower mornings, it helps to know your money is working for you in the background.
The Variable Benefit lets you plan retirement on your terms. Let's explore some of the other ways to make the most of your retirement years.
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Create a balanced routine that includes physical activity, social interactions, and mental stimulation. Start with activities you enjoy, such as walks with friends, yoga, and puzzles, and gradually add variety to keep it interesting.
If you’re looking to try something new, consider checking in with your healthcare provider for tips on staying active and feeling your best.
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Try new things (or reconnect with old favourites)
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Without work routines and interactions with colleagues, retirement can feel quiet.
Now’s the time to explore long-lost hobbies or pick up a fresh passion. Join a local group, try a class, or rediscover something that lights you up.
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Make time for purposeful engagement
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If your work gave you a sense of purpose, too much downtime might feel unfulfilling.
Happiness often comes with a sense of meaning. Volunteering, mentoring, or occasional consulting can bring meaning without adding stress.
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Be mindful about sharing your wealth
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Helping loved ones can be deeply rewarding, but it’s important to protect your own financial wellbeing first. Set a clear budget, including how much you’ll give annually to others.
A quick check-in on MySPP now and then can keep you updated about your SPP balance.
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Enjoy flexibility in your retirement
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With SPP’s Variable Benefit (VB), you have the freedom to shape your retirement income to fit your lifestyle and needs. You decide how much to withdraw, how much to keep invested, and how to balance flexibility with long-term growth.
With a 2024 return of 10.6%* on the Balanced Fund and 3.8%* on the Diversified Income Fund (each with a Management Expense Ratio (MER) of less than 1%), your money isn’t just sitting still, it’s working for you.
Here’s a quick refresher on what you can do with your VB account.
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Set up monthly and/or lump sum payments
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Choose how and when you want to receive your retirement income, straight to your bank account.
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Make lump sum withdrawals
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Need a little extra during the year? Just give us a call and we'll send you Payment Schedule Change form—or you can download it from our website. Once we receive your completed form, we’ll get the process started!
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Move money between SPP funds
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You get two free transfers per calendar year (a $50 fee applies to additional transfers within the calendar year).
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Transfer-in from other eligible registered plans
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Transfers from unlocked RPPs and DPSPs may also be available. Please contact us for details.
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Switch to an annuity when the time is right
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If you’re looking for steady, predictable income for life, you can convert your VB to an SPP annuity at any time.
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*Past performance does not guarantee future results
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Updates from your SPP team
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Kim Grainger, Manager of Pension Services
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Kim has been part of SPP for over 12 years, starting in Member Service and most recently serving as Senior Pension Benefits Officer. Known for her sharp attention to detail and dedication to great service, she's now bringing her expertise to our management team, where she'll oversee the management and administration of our Pension Services.
We're thrilled to have her in this new role and know she'll ensure we continue to deliver top-notch services and make a positive impact for our members and the Plan.
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Adedayo Ayanwale, Senior Financial Investment Officer
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We’re excited to welcome Adedayo (Dayo) to the SPP team as our new Senior Financial Investment Officer. With over a decade of experience in financial reporting, analysis, and compliance, he brings a strong track record of delivering results. His experience in various finance roles, enhancing financial reporting and ensuring regulatory adherence, is a fantastic fit for SPP.
Adedayo holds advanced degrees in Finance, Business, and Economics, and he’s passionate about using his expertise to support strong, smart investment decisions.
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Make sure we can stay in touch!
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It’s a good idea to check your contact, beneficiary, and retirement details at least once a year or whenever something in your life changes.
Use MySPP to review your info, then update your information with one of the methods below.
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or call us at: 1 (800) 667-7153
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