Saskatchewan Pension Plan

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The Saskatchewan Pension Plan (SPP) is a voluntary money purchase defined contribution pension plan created by the Government of Saskatchewan. The SPP was created through The Saskatchewan Pension Plan Act .[1] Oversight of the plan rests with the Saskatchewan Pension Plan Board of Trustees. The plan is also open to both residents (over the age of 18) of Saskatchewan and other provinces. Saskatchewan is the only province in Canada that operates a pension plan open to the general public. The plan has assets of $298 million and 32,000 members.[2] The maximum annual individual contribution is $2500.[3]

The SPP allows its members to transfer up to $10,000 per year from their RRSP investments to the plan.[4] This means that total contributions can easily amount to $2,500 + $10,000 = $12,500 annually, which is a beneficial strategy for anyone wanting to contribute more than the $2,500 annual limit.

The low management expense ratio (MER) of the SPP means your money enjoys better long term growth.[5] The MER has a historical range of 0.79% - 1.24%.[6] Moreover, the average annual rate of return (interest earned) on the fund since inception has been 8.10%. [7]


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