[4] Over the last several years, the amount of money that a person can contribute annually to the Saskatchewan Pension Plan has grown from $600, to $2,500, and now to $7,000.
[5] This means participants have the ability to save a substantial amount of money in a retirement plan which delivers a real pension is now possible.
[8] Money invested in the SPP is locked-in until retirement, which means it cannot be withdrawn except as stipulated in the Regulations of the plan.
[12] The BF is targeted for long-term growth of capital and has medium volatility, while the DIF provides a low risk option that offers income from diversified sources.
[14] The low management expense ratio (MER) of the SPP means your money enjoys better long term growth.
The SPP can help bridge the gap between Old Age Security, the Canada Pension Plan, TFSAs, RRSPs, personal savings, and an employer pension plan to offer additional financial security during retirement.