How your pension works
At the most basic level, your pension plan is pretty simple. Both you and the Saskatchewan government contribute to the Plan throughout your career to ensure there is enough money to pay your pension benefits. When you retire, you get a reliable, monthly pension paid for the rest of your life. Pretty simple, right?
Here are some key benefits of this pension model:
- You don’t have to worry about complicated investment decisions. All contributions are invested and managed by professionals to ensure you receive your pension benefit when you retire.
- Your pension will last as long as you do. No need to worry about running out of money in retirement. You will receive a pension payment from the STF every month until you pass away.
- Your spouse is covered too. If you pass away, your spouse at retirement will receive 60% of your monthly pension until they pass away (unless your spouse signs a waiver form before your retirement date).