SaskTel Pension Plan
SaskTel Pension Plan
SaskTel Pension Plan
Established in 1928, the Saskatchewan Telecommunications Pension Plan is a contributory defined benefit pension plan. It has been closed to new members since 1977.
Employees engaged with SaskTel after September 30, 1977 are members of the Public Employees Pension Plan, which is administered by the Public Employee Benefits Agency.
Notice of Pension Plan Termination
February 27, 2026
Saskatchewan Telecommunications (“SaskTel”) has recently decided to terminate the Pension Plan effective April 30, 2026. This change will not affect the amount, timing, or form of your pension payments.
You should receive a letter in the mail from the Pension Plan with this information. If you have not received a letter by the end of March, please contact us to verify your address.
Your Pension Benefits
You will continue to receive your monthly pension payments exactly as you do now. The only change is that, once the wind-up process is completed, your pension will be paid by a licensed Canadian insurance company instead of directly from the Plan. This will be done through the purchase of an annuity contract that guarantees payment of your pension on the same terms as under the Plan.
Termination and Wind-up Process
The Plan will be wound up in accordance with the requirements of the Pension Benefits Act (Saskatchewan) and the Income Tax Act (Canada) and will be subject to the supervision and approval of the Superintendent of Pensions – Financial and Consumer Affairs Authority (Saskatchewan) (the “Superintendent”). Throughout this process, the Pension Board will work closely with its professional advisors to ensure the wind-up is completed smoothly and in compliance with all statutory requirements.
The formal wind-up process begins on April 30, 2026, and is expected to be completed by late 2027. The first step in this process is to prepare and file a termination actuarial report and other information with the Superintendent by the end of June 2026. Once that report is approved, the Plan’s benefits will be settled in the manner approved by the Superintendent by way of an annuity purchase from a licensed Canadian insurance company.
What You Need to Do
At this time, you do not need to take any action. However, please ensure your mailing address and contact information are up to date with the Plan administration team. You will receive further information from the Plan and the insurance company as the wind-up progresses.
View Plan Termination Frequently Asked Questions (PDF).
News
2025 Annual Pension Increase
The 2025 annual pension increase is 2.00%. It will be applied to your pay effective April 1, 2025 and will appear on your April 30, 2025 pay deposit. 2025-CPI-Calculation.pdf.