Annuities From SPAF

The Saskatchewan Pension annuity Fund (SPAF) was created for members of the Public Employees Pension Plan (PEPP) who want an annuity as their source of retirement income.  Members of PEPP are able to purchase annuities from SPAF on or after retirement.  Payments are made to you at the end of every month and continue for your lifetime.

For more information please see our PEPP Talk on Annuities From SPAF.

PEPP members that are within one year of retirement can contact PEPP to request an estimate of monthly annuity income that may be provided by SPAF.


If you are over 50 years of age and no longer working for a PEPP participating employer and wish to purchase an annuity from SPAF, please contact our office for a current estimate and application form.


We will require 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)

A spouse's waiver form allows the member to designate someone other than their spouse to be the beneficiary of their pension survivor benefits. Legislation stipulates that a member's spouse must be the beneficiary in the event of the member's death. By completing the waiver the spouse (common-law, legally married, or estranged) may waive all or a portion of their right to survivor benefits in the event of the member's death. The member may then designate anyone he/she wishes as beneficiary to the survivor benefits waived by the spouse. The spouse’s waiver form must be completed prior to purchasing the annuity.  It cannot be filed with the Plan after the annuity has been purchased.

See the PEPP Talk... on Waiver of Spousal Benefits for detailed information on a spousal waiver.

No. There is no indexing or cost of living allowance built into your pension benefit from the Saskatchewan Pension Annuity Fund.

No. Your pension is not integrated with Federal Government benefit programs. Your SPAF pension will not be reduced once you start to draw from another benefit program such as CPP and/or OAS.

Yes, according to the federal government provisions pension funds are taxed as they are received.

If you chose a joint and survivor pension, your spouse will receive the survivor benefit percentage that you chose when you retired. For example, if you chose a joint and survivor pension with a 60% survivor benefit, your spouse will receive 60% of the amount you were receiving.

Your spouse will receive these payments for the balance of his/her lifetime. Please note: only your spouse at the time of the purchase of the annuity can receive the survivor benefit. Should your spouse pre-decease you and you re-marry, your new spouse will not receive the survivor benefit. If the guarantee period has not expired, he/she can be named as the beneficiary and would receive payments to the end of the guarantee period.

If you chose a single life annuity with a guarantee period, your named beneficiary(ies), will receive your pension for the balance of your guarantee period, if any. If you named your Estate as beneficiary, the estate can continue receiving the payments to the end of the guarantee period or request a single payment of the value of the remaining payments, if any.