In this third of a four-part series, Save with SPP talks to Janet Gray, CFP, of Money Coaches Canada about the stress and worry of debt, and how to get it under control.

There’s no doubt, says Janet Gray, CFP, of Money Coaches Canada, that debt is a “nemesis” for many people today. It causes “stress, worry, anxiety, hopelessness,” and people can “just get ground down by it,” she tells Save with SPP.

“There’s no simple way to get out of it; it can seem like quicksand. Many users feel stuck,” she explains.

These days, the sources of debt she helps clients battle include “consumer debt and credit cards, and I’ll include variable rate mortgages and lines of credit too,” she says.

Credit cards, she says are the worst “because they are toxic,” and can carry very high interest rates in the 19 to 21 per cent rate. “If you miss even the minimum payment, the credit card interest rates will go even higher,” she warns. Or, worse, you could get your card cancelled and still owe all the money and interest.

While credit can lead you into trouble, it is a bit of a “necessary evil,” she explains. You need to establish credit so you have a borrowing record, so that you can qualify for things like car loans and mortgages, she says. So having bad credit can make those dreams less possible – it can take two or more years to repair a bad credit score.

We hear that credit cards work well for those who are able to pay off their balance each month, and Gray states that it’s about 70 per cent of Canadians who fully pay their balance monthly.

But many people feel that just paying the minimum amount on a credit card is good enough, when all it means is that you are mostly paying the interest down, but not the principal. They see the credit card as money, rather than a source of debt, she explains. “For some people, a credit card is the only cash flow they have,” she explains.

So, if you are barely able to cover all your minimum payments each month, how do you get out of debt?

“First,” says Gray, “you have to recognize that it is going to be a challenge – and will take some time.”

Next, look at each individual debt that you have. There are several ways to attack the debt.

The “avalanche” method involves paying extra on your highest interest rate debt first. Then, when that’s paid off, you add what you were paying on it to your next-highest interest rate debt, and continue “down the hill” until everything is paid off. This method can minimize high interest charges.

An alternative approach is the “snowball” approach, where you pay the smallest debt amount first, then go on to the next smallest, and so on, she says. This can provide motivation as you see your successes along the way.

“There are all kinds of ways to get there,” she says. “I recommend people pick one, and then, just do it!”

Other ways out of debt include consolidation loans, where you take a loan to pay everything off and then pay off the loan over time, say three to five years. Gray says if you go this route you might be tempted to start using credit cards again – don’t.

Beyond those approaches, the only ways out of debt are via a consumer proposal, where a trustee negotiates a lower settlement price for your debt, or bankruptcy, which will mean “six years with no or little credit. No one really wants to do this, but for some it may be the only option,” she notes.

A lot of people get lulled into using credit cards because they offer reward points or cash back. “If you are carrying a balance on a credit cards, those points aren’t free – you are paying 21 per cent interest to get points that are maybe worth one per cent of your balance,” she warns.

She concludes by noting that those who are piling up debt on credit cards, and creating a cycle of having no cash flow, need to look at credit “more starkly, to see it for what it is.” They have to break the cycle of credit dependency – that “I deserve to spend, instant gratification mentality.”

In the fourth and final part of this series, we’ll look at setting goals for life.

Did you know that the Saskatchewan Pension Plan now offers its Variable Benefit to all SPP members? Under this flexible retirement option, you can decide how much income you want to withdraw from your account while it continues to be invested. As well, you can continue to transfer money in from other registered sources! Check out SPP today!

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13 ways to save – even if you’re on a tight budget

We’ve all been there at some point in our lives – hopefully not right now, in yours – where the money coming in barely covers (or barely doesn’t) the bills you need to pay.

For folks in that situation, the idea of saving money, even for retirement, may seem an impossibility.

But, writes Matthew Goldberg for Yahoo! Finance, there are still some ways to squeeze some savings dollars, even if you are operating on a super-tight budget.

He says making small changes can help free up money, even in these times of high inflation.

“Turn lights off when you’re not using them,” he advises. (Our late Dad used to amble around the house turning off lights, even if we were using them.)

Other advice includes “cutting the cord on cable, and opting for cheaper streaming services.” Goldberg writes that you can sometimes share streaming services with other folks to cut costs even more.

His next advice, a key piece, is “withholding from impulse purchases. One way to do this is by writing down wants and waiting a week or so before buying them, so you can see if you still want them.” We’ll add that when buying online, read reviews from people who have purchased the product – often that will help you decide if it’s really what you want, or not.

Another idea is to make a simple budget – the “50/30/20 rule,” in which half your money goes to essential expenses, 30 per cent “to things you want” and the rest – 20 per cent – to savings, the article notes.

Goldberg recommends automating your saving.

“It’s easy to forget to save. That’s why automating the process is the best way to save money,” he advises. He suggests having a portion of every paycheque automatically directed to a high-interest savings account.

This “pay yourself first” approach works great, because after a while you won’t notice the fact that a regular savings contribution is being made, and will live on the rest of your pay.

He also suggests looking for chequing accounts that also pay interest – many don’t, but if you look around, there are Canadian financial institutions that do pay interest on your chequing account.

If you are paid every two weeks, there “are two months of the year where you’ll receive a third paycheque in a month.” Treat this “extra” money, Goldberg writes, as a way to quickly pay down some of your higher-interest debt, or to start (or add to) an emergency fund.

Other advice in this article – shop around for the best rates on auto and homeowner’s insurance “every few years,” consider moving to a smaller place or more rural area to save on housing costs/rent, and to “set up automatic contributions to your employer-sponsored retirement plan.” This is a U.S.-focused article, but here in Canada, that might mean a workplace pension plan or group registered retirement savings plan – be sure you are contributing to it at the maximum possible rate, because often there is an employer match on your contributions.

He concludes by suggesting that we all eat more meals at home (rather than at restaurants) and look for the best possible deals on vacations.

This is all good advice. Making savings a priority, rather than an easy-to-forget afterthought, is key to this process.

If you’re a member of the Saskatchewan Pension Plan, you can arrange to make pre-authorized contributions directly from your bank account to the plan. It’s easy to set up.

Great news for SPP members – our Variable Benefit option is now borderless, and available to all Canadian members! See how this flexible retirement option can let you withdraw the amount you want, when you need it.

Join the Wealthcare Revolution – follow SPP on Facebook!

You’ll hear about it on the golf course, at the Legion, on the dance floor at line dancing, or over coffee – seniors like talking about their investments, and worry about how they are doing.

Save with SPP decided to look into what sorts of things seniors should be thinking about when it comes to investing.

Over at the Retire Happy blog, Grant Hicks notes that older seniors, say 75 plus, want their investments to be “safe, short term, and no risk.” He says folks tend to get more cautious as they get older, even when we are talking from age 65 to age 75.

He cites the example of “Mr. and Mrs. Jones” of Qualicum, B.C. (real names are not used) who were debt-free, mortgage-free, and had about $200,000 to invest.

“They were looking for tax efficient income. They were not looking to keep it short term in case of something happened to one of them because the other person would still require the income,” he writes.

“Here’s what they decided on. First, we put aside 20 per cent short term for emergencies. This was invested into a cashable term deposit at the highest interest we could find. Then we built an income portfolio that consisted of bonds and guaranteed investment certificates (GICs) (20 per cent) preferred shares (20 per cent), common dividend paying shares (20 per cent) and income trusts and income securities (20 per cent). The portfolio focus was to pay out approximately four to five per cent monthly on a tax efficient basis, meaning the income was not all interest, but dividends, business income and capital gains.”

In an article in MoneySense magazine, investment counsellor and author Patrick McKeough “pounds the table for a conservative portfolio of quality dividend-paying stocks spread among the five major economic sectors.” Those sectors, the article advises, include manufacturing and industry, resources, finance, utilities and consumer.

In the article, McKeough discusses “pre-retirement financial stress syndrome,” which occurs when older investors begin to realize they may not have saved enough to fund “the stream of income they had been counting on.” He warns older investors of the urge they may have to make “one last desperate `Hail Mary’ gamble” on a breakout stock to try and play catch up. Instead, they should do the opposite, and look for safer investments, the article notes.

An older, but still wise article in Canadian Living also says older investors should focus on bonds (chiefly government bonds, with a smattering of corporate bonds that pay higher interest), GICs and dividend stocks, but adds the idea of annuities.

“Insurance companies offer annuities, which are investments that, in retirement, pay set monthly payments for life. It’s a great option for people who are worried about their cash flow, but it can be an expensive one. Fees are typically higher than what you’d pay on a mutual fund, and your money won’t get as great of a return as it would if you invested in the market yourself. But your cash is protected and you do get a regular cheque in retirement, which, to many people, is worth the extra costs,” the article notes.

At the time this article was written, interest rates were at record lows – today, higher rates mean the cost of an annuity has gone down – you get more income than you would have got with lower rates.

The Canadian Living article takes a different look at riskier common stocks.

“While you’re supposed to become a more conservative investor in retirement, you should also own some plain old stocks. Your portfolio still has to grow or you could run out of cash as you get older. That’s not to say you should invest in risky start-ups, but some solid brand-name growth stocks should help increase your savings,” the article notes.

There used to be an industry “rule of thumb” we heard around the pension plan office, specifically, that your present age should be the percentage of your holdings that are in fixed income. So if you were, say, 64, then 64 per cent should be in fixed income, with the rest in equities and other investments. This rule sort of got set aside during the decades-long low interest period, but may live on in some people’s financial plans.

Did you know that members of the Saskatchewan Pension Plan have a couple of great retirement income options? They could choose to convert their SPP savings into a lifetime annuity – a monthly payment arriving on the first of every month for the rest of their lives. Or, they could choose SPP’s Variable Benefit, which allows you to decide how much money you want to withdraw when you retire – more if you need, less if you don’t – with the option to annuitize at some future date.

Check out SPP today!

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Retirement saving should be a priority for women, U.S. study says

Writing for Yahoo! Finance, Emily Oster reports that despite the fact that women generally live longer than men, they don’t tend to put a priority on retirement saving.

“Women generally live longer than men. This means women need to prepare for their financial future and conserve their savings for a longer amount of time. And yet, there is a 30 per cent gender gap in retirement savings—meaning for every dollar saved by men, women save 70 cents,” she writes.

The article says that means that women are starting the retirement savings race in second place, but things are worse for moms.

Citing new research from TIAA in the U.S., Oster notes that “while there are many drivers behind the gender retirement gap, ranging from women receiving lower earnings than men to differences in expectations about payment for childcare, there are easy and accessible ways to get the retirement income you deserve.”

While more than half of women focus on childcare costs, just 33 per cent see retirement saving as a priority, the article reports.

For moms, there is a double whammy, Oster writes.

“Leaving the workforce when children are young does not only result in a loss of income, it also means a loss of retirement savings and potentially lowers earning potential later, even if you do eventually return to the workforce. That doesn’t necessarily mean it isn’t the right choice for your family, but if the decision is purely financial, there is more to factor than just immediate income loss,” she explains.

We can add another consequence – you may not be able to afford to contribute to a retirement savings program while you are off work on a parental leave, earning less.

Oster uses this example to illustrate the impact of time away from paid employment:

“Consider a 30-year-old making $60,000 a year who manages to save just three per cent of their income, or $1,800 a year. Taking two years off of work at this stage results in over $38,000 less in retirement savings by age 65 when compounded with seven per cent interest. If that same person took five years off of work, the difference in savings would be nearly $100,000,” she explains.

There’s another problem for American women, Oster writes, and that’s the fact that many of them are not saving much for retirement.

“Only 26 per cent of women are saving for retirement and are comfortable with the amount they are saving; 47 per cent have no retirement savings at all; and the remaining 27 per cent are saving but not to the level that they want,” the article reports.

Oster cites the power of compound investment growth as a reason to start saving early in life, even if you start small.

“It’s important to specify what women with no retirement savings at all could be missing out on. If someone who is currently 30 years old put just $20 a month into a retirement savings account at seven per cent interest, they would have approximately $34,000 in savings by age 65. This $20 a month is the equivalent of five lattes or one streaming service subscription,” she writes.

Oster concludes by noting that it is never to late to start saving for retirement, urging readers to track earnings and spending in order to free up money for saving, and to open a retirement savings account now, and start small, ramping up when possible.

Did you know that one of the founding purposes of the Saskatchewan Pension Plan was to provide a way for folks who didn’t have pension plans at work, or who didn’t work, to save for retirement? SPP still delivers on that purpose.

If you don’t have a plan through work, and are relying on yourself to save for retirement, why not enlist the expertise of SPP? This do it yourself pension plan will invest your hard-saved dollars in a low-cost, professionally managed pooled fund. When it’s time to collect income, SPP’s options include the Variable Benefit (now available to all Canadians) or the possibility of a lifetime annuity.

Check out SPP today!

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We first heard about pickleball from one of our line dancing friends who is a tennis player. This was a few years ago. There was something new, she said, sort of like tennis mixed with ping-pong, played on a half-tennis court with a hard bat and a sort of wiffle ball.

Huh, we said to each other.

It was more recently that we began to hear that pickleball, perhaps like The Macarena dance of decades ago, had become a craze (as well as a recreational sport) not just for seniors but for players of all ages. Save with SPP took a look around to see what’s causing all the excitement.

“There is a sport that has taken off in Canada,” writes Shireen Ahmed for CBC Sports. “Neighbourhood parks are full of enthusiastic athletes, but the sport’s popularity has become polarizing on many courts: the centre of said drama is pickleball.”

The game has become so popular that it is crowding out other activities, she explains.

“There are noise complaints, annoyances to local residents and also a movement to reduce it because it is pushing children away from playgrounds. Is pickleball really threatening the suburban happiness of Canadians? Is it a sport or a leisure activity? Why are people so mad about it,” she asks.

It’s not an all-new sport, she writes – it was first played in this country in the 1970s and the first pickleball courts in Canada were built in Vancouver in 1984. But the sport has taken off, Ahmed reports, and there are now 1.37 million players – known as “picklers” – in Canada. There is even a pro league that has attracted Canadian tennis star Eugenie Bouchard, she writes.

While it is a bit noisy (the plastic ball hitting the ground and bats) Ahmed concludes that it was easy to pick up, and fun.

Down in the U.S.A., reports Inc., pickleball is now more popular than tennis.

The article expands on the idea that pickleball is easy to pick up.

“Pickleball’s triumph stems from its careful blend of novelty and familiarity. Despite introducing a new and exciting activity, the sport cleverly utilizes the existing infrastructure of tennis courts and incorporates rules reminiscent of its well-established counterpart. This lesson for brands underscores the idea that innovation need not be revolutionary. Offering a fresh twist on a familiar experience can captivate consumers without alienating them, creating a perfect balance. Draw people in with something new, but don’t scare them away,” the article tells us.

“The low barrier to entry–affordable equipment, ordinary athleticism, existing courts, and the simplicity of the game–make it easy for individuals of varying ages and skill levels to embrace the sport,” the article adds.

Reminds us of when soccer began to really take off decades ago – equipment costs, compared to sports like football or hockey, were much lower.

The game’s popularity is taking off so fast that the sports industry is struggling to keep pace, reports Yahoo! Sports.

“The industry is still struggling to keep pace with pickleball’s surging participation numbers. But small businesses and large corporations alike are catching up, while municipalities and private clubs race to build courts across the country,” the article reports. A November pickleball championship was expected to draw 50,000 fans, 4,000 amateur players and 200 pros, the article continues.

“You’re going to see pickleball everywhere next year,” Adam Franklin, president of Franklin Sports, the 77-year-old sporting goods company, tells Yahoo! Sports. “I still think we’re really in the early days of how this is going to look in the U.S. landscape.”

Maybe we’ll have to give this a try!

Perhaps some of the money saved on sporting equipment by the relatively low-priced activity/sport of pickleball can be directed towards your retirement savings program. If you don’t have a program through work, and are saving on your own, a great partner is waiting to help you – the Saskatchewan Pension Plan. All the dollars you contribute to your SPP account will be professionally invested in a low-cost, pooled fund. At retirement, you can choose such options as a lifetime annuity, or SPP’s Variable Benefit, now available to all members.

Check out SPP today!

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Working folks would prefer better pensions to a raise – but do employers get that?

An interesting schism has been discovered between employers and employees when it comes to pensions.

A study prepared for the Healthcare of Ontario Pension Plan (HOOPP) by the Angus Reid Group found that employers who think pay raises are a better way to attract and retain talent than offering or improving pension benefits may “be at odds with what Canadian workers want.”

The research is summarized in a recent HOOPP media release.

There was some good news, the release notes – some employers seem to be getting the message about workplace retirement programs. “A growing number of employers are turning to benefits, including pensions, to address a challenging labour market and improve employee retention and productivity,” the release points out.

So, what was the key finding of this research?

“The annual survey of 754 Canadian business owners and senior leaders with 20+ employees found employers who don’t offer retirement benefits may not be fully aware of their employees’ views on pensions, as 77 per cent believe their employees would choose a higher salary over a pension. In fact, previous HOOPP research has found that almost two-thirds (61 per cent) of Canadian workers would prefer a pension over a pay hike,” the release reports.

Let’s run that one by a second time. More than three quarters of employers think their teams want higher salaries versus pensions. But 61 per cent of employees prefer pensions over wage hikes!

“Workers may want pensions even more than their employers know,” said Ivana Zanardo, Head of Plan Services, HOOPP, states in the release. “Employers want to remain competitive in a difficult labour market and it’s easier to stay ahead if you understand, and can offer, what the workers you’re trying to attract and retain are looking for in terms of compensation.”

Attracting new employees and keeping them after they are hired is tougher these days, with unemployment running relatively low, the study notes.

“A significant majority of employers expressed concern about the negative impact of greater competition for hiring (77 per cent), a labour shortage (75 per cent) and employee burnout (73 per cent) on their organizations,” the release explains.

But those who offer retirement programs to their teams report different findings, the release continues:

• “58 per cent of employers who added or improved retirement benefits in the last year report higher than usual productivity, compared to just 34 per cent of employers who don’t offer them.”
• “Employers offering retirement benefits are two times more likely to say their employees can retire at or by age 65 (80 per cent) than those who don’t offer them (42 per cent).”
• “Employers who offer retirement benefits consistently rank retention (64 per cent) and recruitment (59 per cent) as the top benefits of doing so.”

Zanardo concludes the release by noting “the hope is that dialogue between businesses, government, the retirement industry and workers will help employers overcome obstacles to offering retirement benefits.”

We know that the Saskatchewan Pension Plan offers individual retirement savers the chance to have their hard-saved dollars professionally invested at a low cost. But a growing number of employers have found that they can set up a workplace pension plan easily using SPP, with the vast majority of administration work (statements, tax slips, and so on) handled by the team in Kindersley. If you’re interested in offering SPP as a benefit to your employees, contact SPP today!

SPP’s Variable Benefit option is now available to all members – it’s borderless! Find out how this flexible retirement income option can work for you.

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Money, writes author Liz Davidson, quoting from the lyrics of an old song by the O’Jays, “can drive some people out of their minds.”

But her book, Money Strong, provides a step-by-step way to put you in control of not only your money, but your life.

“When you gain control over your finances, you can ultimately spend your time doing what provides you with the most joy and fulfillment and make what Steve Jobs called `your own dent in the universe,’” she writes.

She runs through the “money stories” of her family. Her personal money axioms include an effort to “spend wisely and on things that really matter to you, ideally things that grow in value over time or that you feel are really important to your quality of life.”

Money, she adds, “is something you have to earn, and it really only counts if your own efforts generate it.”

She has developed what she brands as the START framework:

• Set yourself up for success
• Tackle your stress
• Advance towards the life you want
• Role model good financial habits
• Thrive by living your purpose

OK, so how do we START?

The book is set up in modules to explain (using examples and worksheets) how to put all the principles of START in place.

Davidson says we need to establish “your financial identity” first. Are you an investor-type, “future oriented,” focused on the big picture? Or a bargain hunter who gets “a rush out of getting a deal” and have “both a love and a skill for negotiating?” Could you be a “minimalist” who cherishes “the moments with those you love above all else?” Or a planner who loves to-do lists, and to “arrange, communicate and follow plans?” Other financial identities covered off in the book include givers (who think of other people’s needs first) and automaters, who “set money aside for (their) future.”

You should commit to one of these identities and then plan accordingly, she advises.

An interesting chapter looks at the use of “bright spots” to move forward towards financial freedom. This is basically figuring out what’s gone right for you in the past for other things, and then “taking what worked for them to achieve success in other areas of… life and applying it to their finances.”

Examples of the use of a bright spot – “some people discovered they were at their best when they found ways to get perspective, remind themselves of their end goals, and find a way to track progress,” Davidson explains. Other “created a mantra they could keep front and centre of their mind to focus on the things they could control, and let go of those they couldn’t, sharing their mantra with their families and friends for accountability and reinforcement.”

So, figuring out what has worked for you in life, and then integrating it into your life and money plan. Interesting!

In a module on how to “tackle your financial stress,” Davidson advises us to “let go of shame and fully accept that you cannot change the past” when it comes to money. Become aware of what stresses you the most about finances, and develop a recovery plan that “is realistic… (and) trackable, so that you can see your progress and feel a sense of both accomplishment and relief, which will keep you motivated to continue the plan.”

High interest debt needs to be eliminated systematically. She suggests breaking up debt repayment into small, “to-do” list steps that can be celebrated as they are completed. Once you have cleared up your debt, build an emergency fund (start small) and avoid going back into debt. “If possible, use your credit cards sparingly… and use a debit card instead for all purchases you make at stores,” she suggests.

It’s hard to do justice to a book this detailed in a short review, but the short-form takeaway is that you can leverage things that work for you in other facets of life to develop a plan to regain control of your money – and with that control, you will be able to focus on what you want to do rather than on the struggle of staying afloat.

We particularly liked the example of replacing bad habits with good ones – she cites the example of replacing drinking after a hard day at the office with dancing, something she loves to do. Change a bad spending habit for a good one, and things will look after themselves.

It’s a good habit to put away money for your future – a time when you may not be able to work as hard. If you don’t have a pension program at work, the Saskatchewan Pension Plan may be just the partner you’ve been looking for. Let SPP invest your savings in a low-cost, professionally managed pooled fund, and at the end of work, SPP will provide you with retirement income options, including a stable of annuities and the flexible Variable Benefit option.

Check out SPP today!

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Will rising healthcare costs kill the retirement buzz for Boomers?

New research carried out for Sun Life by Ipsos has found that while Boomers are looking forward to enjoying “the gift of time” in their retirement, “many overlook the impact health issues will have on both their plans and their wallets.

The survey was covered in a recent media release and noted that nearly one third of Boomers (fully or partially retired, ages 58 to 77) “cite healthcare costs as a factor causing their cost of living to be more expensive than anticipated in retirement.”

Healthcare was the second top concern of the surveyed group, with inflation coming in far ahead at 83 per cent, the survey found. Healthcare was at 32 per cent, followed by housing costs (31 per cent) and market volatility (23 per cent).

“Many retirees are not prepared or aware of the out-of-pocket medical expenses in retirement,” states Jacques Goulet, President, Sun Life Canada, in the media release. “These costs can have a significant effect on retirement, especially for those living with a chronic physical or mental health condition that requires ongoing treatment. With the cost-of-living climbing, a holistic plan that meets your health and financial security needs can help prevent this financial burden later in life,” he states.

It seems that the older you get, the more likely it is that you’ll have one or more chronic health problems that require testing, scanning, measuring, and treating.

“Nearly half (49 per cent) of Boomers surveyed shared that they have a chronic physical or mental health condition that requires medication or treatment. Of those living with a chronic condition, nearly a third (32 per cent) have or have considered changing their retirement plans to pay for health-related costs,” the release continues.

Even Millennials are starting to enter the chronic health problem universe.

“Nearly a third (31 per cent) of Millennials (aged 27-42) have a chronic physical or mental health condition requiring medication or treatment. Yet, over half (52 per cent) of Millennials with a chronic health condition have not factored the cost of managing their chronic condition into their retirement plan. When broken down by gender, 61 per cent of women and 43 per cent of men have not factored in these costs,” the release notes.

Sun Life recommends that people factor in future healthcare costs in their retirement planning.

Advisors, the release concludes, can help clients “develop a creative strategy to help them understand the costs of aging, grow their wealth, and ensure all aspects of life are supported. These critical conversations with a trusted professional will enable Canadians to enjoy their retirement.”

There’s a lot of truth here. Your provincial health plan and even your post-retirement benefit plans may not cover all the costs of drugs, dentistry, vision and health. So, $50 here and $100 there. Plus, if you have chronic health problems, the cost of out-of-country health coverage is much steeper than it was when you were healthy and young.

So, for sure, factor into your planning the fact that you may face healthcare costs.

Did you know that the Saskatchewan Pension Plan is open to any Canadian with registered retirement savings plan room? Why have a do-it-yourself retirement when you can sign up with SPP and have experts manage your retirement savings in a low-cost, pooled fund?

News flash: SPP’s Variable Benefit option is now borderless – any member can choose this benefit regardless of where they live in Canada. Find out how this flexible retirement option can work for you.

Check out SPP today!

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