📋 Tender Overview
Released on November 3, 2026
The Government of Saskatchewan has introduced amendments toto ensure important legal protections continue to apply on income in retirement.
Our government is committed to making sure Saskatchewan residents maintain appropriate protections on retirement benefits, Justice Minister and Attorney General Tim McLeod, K.C., said. These amendments support greater choice and flexibility for retirees while maintaining important protections for plan members and their families.
A pooled registered pension plan (PRPP) is a type of pension plan that pools contributions from employees of multiple employers to achieve lower investment and administration costs.
The amendments respond to federal tax changes that established a framework for PRPPs and defined contribution pension plans to offer variable payment life annuities (VPLAs) directly to plan members.
A VPLA is a retirement income option that allows members, upon retirement, to transfer some or all their pension savings to a separate annuity fund within the pension plan. VPLAs are variable in that payments fluctuate based on the funds investment returns and the longevity of its members.
Once corresponding federal legislative and regulatory amendments come into force, eligible Saskatchewan PRPP members will be able to transfer some or all the funds in their PRPP accounts to a VPLA fund and receive lifetime retirement income from that fund.
The amendments make sure members who choose a VPLA are covered by the same legal protections and obligations as other PRPP members. This includes extending existing creditor protection provisions to payments made from a VPLA fund, while also allowing VPLA payments to be used to enforce child and spousal support obligations and to be divided between spouses or former spouses when required by a court order or family property agreement.
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For more information, contact:
Noel Busse
Justice
Regina
Phone: 306-787-8621
Email: jumedia@gov.sk.ca
