Sorry, you need to enable JavaScript to visit this website.
Skip to main content
Postal Service Disruption

Canada Post service disruption may result in delays in mail being delivered to and from Plannera. To help ensure prompt delivery of your pension or benefit payments, you may wish to consider Direct Deposit as a convenient electronic service. With Direct Deposit, you can have your pension or benefit cheques automatically deposited to your bank account at no extra cost. There are no delays due to mail disruptions and no need for you to deposit your cheque in person.

Saskatchewan Pension Annuity Fund

A SPAF annuity provides guaranteed monthly income for you and your spouse's lifetime (if you buy a joint life annuity).

When you buy an annuity, you enter into a contract, which cannot be modified. The amount of your monthly annuity payment is determined by:

  • the type of annuity you buy (single or a joint life);
  • the guarantee period you choose (life-only, 5, 10, or 15-year guarantee);
  • the survivor benefits you choose (100%, 75%, 66 2/3%, or 60%);
  • the amount used to buy the annuity;
  • your age (and the age of your spouse if you buy a joint life annuity); and
  • the current market and interest rate environment.

If you are over 50, and are retiring from a PEPP participating employer, you may wish to buy an annuity. If that sounds like you, please contact our office for an estimate and application.

Coverage options

Single Life Annuity 
A single life annuity provides monthly annuity payments for your lifetime.

In the event of your death:

  • with a life-only guarantee period option - all payments stop.
  • with a 5, 10, or 15-year guarantee period - if you die during the guarantee period the single life annuity provides a benefit to your beneficiary(ies) equal to a monthly payment for the rest of the guarantee period.

When you buy an annuity, you enter into a contract that cannot change.

  • If you do not have a spouse at the time you buy an annuity, or if your spouse waives the right to the survivor benefits, you may buy a single life annuity.
  • If you enter into a spousal relationship after purchasing an annuity, you cannot convert your single life annuity to a joint life annuity.

You may amend your beneficiary(ies) at any time.

Joint Life Annuity 
A joint life annuity provides monthly annuity payments for your lifetime; if you die, monthly payments (survivor benefit) will begin for your spouse and continue for their lifetime. When you buy a joint life annuity from SPAF, you have the option to leave your spouse a survivor benefit equal to:

  • 100%;
  • 75%;
  • 66 2/3%; or
  • 60%.

The higher the survivor benefit the lower your monthly benefit. You also have the option to add a guarantee period of 5, 10, or 15-years. 

Survivor benefits are only payable to the spouse you have on the purchase date of the annuity contract. If you enter into a new spousal relationship, the survivor benefits do not extend to your new spouse.

Additional Information

 PEPP Talk - Annuities From SPAF

Eligibility

We need these documents:

  • Application for SPAF
  • Certified copies of:
    • your birth certificate
    • your spouse's birth certificate (if you have a spouse)
    • marriage certificate or declaration of common-law spouse (if you have a spouse)
  • TD1 (federal and provincial)

Forms

*Please contact our office for a current estimate of your monthly income and for a SPAF application.

Contact

110 - 1801 Hamilton Street

Regina, Saskatchewan S4P 4W3

pepp@plannera.ca

Toll Free: 1-877-275-7377

Phone: 1-306-787-5442

Fax: 1-306-787-0244

 

Monday to Friday

8:00 a.m. to 5:00 p.m.