Life events

Retirement

Congratulations! You are ready to retire from SaskTel and begin a new chapter in life.

Contact SaskTel Human Resources to begin.

Age 65

Happy 65th birthday! A few important things happen with your benefits at age 65 that you should be aware of.

CPP Reduction

The SaskTel Pension Plan is integrated with the Canada Pension Plan. In the month following your birthday month, your pension will be reduced to reflect the receipt of CPP. The reduction amount was indicated on the letter you received from the plan when you retired. We will remind you of the reduction amount by mail near your 65th birthday.

Note: You can apply for and receive a full CPP retirement pension at age 65, or receive it as early as age 60 with a reduction or as late as 70 with an increase. Your election does not change the reduction date or amount of your SaskTel Pension.

For more information on CPP, including how to apply for benefits, please contact Service Canada.

OAS Reduction

If you opted to integrate your Old Age Security benefit with your SaskTel Pension, your pension will be reduced to reflect the receipt of OAS benefits. The reduction amount was indicated on the letter you received from the plan when you retired. We will remind you of the reduction amount by mail near your 65th birthday.

For more information on OAS, including how to apply for benefits, please contact Service Canada.

Life Insurance

If you elected to continue life insurance coverage through the Public Employee Benefits Agency after retirement, your coverage ceases at age 65, unless you elect to remain insured until age 75.

If you wish to continue coverage to age 75, please contact PEBA to arrange. PEBA will notify the pension plan of your election to continue coverage.

Age 75

Happy 75th birthday!

Life Insurance

If you elected to continue life insurance coverage through the Public Employee Benefits Agency, your coverage ceases. You will no longer see deductions from your pension amount for life insurance after your 75th birthday.

Marriage

Congratulations to the both of you!

The Plan provisions allow for survivor pension benefits to your spouse of record on the date you retired. If you have already retired, your new spouse will not be eligible for survivor benefits.

However, you may update your life insurance beneficiary to include your new spouse if you wish. Contact the Public Employee Benefits Agency to make any desired changes.

Divorce

We are sorry to hear about this.

Divorce can be a tricky matter. Please have your lawyers contact us for settlement options available prior to finalizing the divorce proceedings. This will allow us to carry out the settlement efficiently and prevent you from having to engage with the other party a second time to renegotiate if we are unable to accommodate the terms of the divorce.

Should you wish to update your life insurance beneficiary, please contact the Public Employee Benefits Agency.

Once an agreement has been reached, we will require a copy of the settlement for our records.

Moving

Please ensure that you notify us of your new address and, if applicable, phone number to ensure you continue receiving important documents from the pension plan, such as your T4A statements at tax time. Please provide us with both your old and new contact information.

Remember to notify the Public Employee Benefits Agency of your new contact information.

Power of Attorney

If you have appointed someone to manage your affairs with a Power of Attorney, please provide us a copy to ensure that we know that person can represent you.

For privacy reasons, we are unable to conduct transactions with anyone but the pensioner unless a copy of a Power of Attorney document has been provided to us.

Death

Our condolences to the family and friends for their loss.

We understand that this is not a pleasant experience and our goal is to make this transition as easy as possible for the person handling the estate. The last pension payment in the deceased’s name occurs in the month of death, therefore it is important that we are notified as soon as possible to prevent overpayment and the extra effort that will result in settling the estate.

If there is a surviving spouse that qualifies for survivor pension benefits, payment of that benefit will begin the month following the pensioner’s death. To ensure there is no interruption in benefits, please ensure we are notified promptly.

We will provide an information package containing all relevant information soon after we have been notified.

Our office will require an original, or certified copy, of the death certificate for our records.

To process life insurance claims, please contact the Public Employee Benefits Agency.