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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


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)


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


110 - 1801 Hamilton Street

Regina, Saskatchewan S4P 4W3

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.