By Jason Heath, CFP on May 12, 2026 Estimated reading time: 4 minutes

What is the Saskatchewan Pension Plan?

By Jason Heath, CFP on May 12, 2026 Estimated reading time: 4 minutes

The Saskatchewan Pension Plan gives Canadians another way to save for retirement, with low fees, locked-in contributions, and simple fund choices.

The Saskatchewan Pension Plan (SPP) was introduced in 1986 and was originally intended to help part-time workers, the self-employed, or others without access to a pension to save for retirement. Over time, it has evolved and become more appealing to both individuals and businesses. 

Who can join the Saskatchewan Pension Plan?

Despite being a provincial initiative, the SPP is available to all Canadians. It is now the country’s 21st-largest defined contribution pension with over $800 million of investment assets and more than 33,000 members. 

You can open an account online if you’re between the ages of 18 and 71. There are no minimum contributions, so deposits are entirely voluntary. You can contribute with automated withdrawals or lump sum deposits. 

Contribution limits were originally quite low but in 2023, the SPP removed the annual contribution limit. Now, contributions are based on an accountholder’s registered retirement savings plan (RRSP) room, just like an RRSP account.

What can you invest in through the SPP?

The investment choices are simple: the Balanced Fund and the Diversified Income Fund. Investment fees for both are under 1% (0.91% and 0.89%, respectively), which is competitive. 

Balanced Fund: Growth-focused........

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