2025 February Annuity Members e-Newsletter

RETIREMENT INCOME YOU CAN COUNT ON

In today’s world where the market experiences frequent ups and downs, finding financial stability can feel like a challenge. That’s where an SPP annuity shines. It offers you the peace of mind of a guaranteed fixed monthly income for life, no matter what’s going on in the markets. Unlike other income options, your SPP annuity payments remain steady and unaffected by volatility, ensuring your retirement stays on solid ground.

It’s reassuring to know you will not outlive your SPP annuity. Your savings won’t run out, giving you the confidence that your retirement income is secure for your lifetime. It’s one less thing to worry about, so you can focus on enjoying the years ahead. You’ll enjoy consistent payments without having to manage investments or track market fluctuations.

2025 Annuity Payments

Annuity payments are deposited on the first of each month. If the first falls on a weekend or holiday, the payment is deposited the prior business day.

February: January 31
March: February 28
April: April 1
May: May 1
June: May 30
July: June 30

August: August 1
September: August 29
October: October 1
November: October 31
December: December 1
January 2026: December 31

Making the Most of Your Annuity

The beauty of an annuity lies in its guaranteed stability, making it a great choice for retirees who want predictable income to support their needs and lifestyle. While an annuity provides peace of mind, there’s still room to be strategic about how you plan around it, ensuring your retirement funds go as far as possible. Here’s how to make the most of it.

Define what matters most to you

Retirement is your time to shine! Whether you dream of exploring new destinations, diving headfirst into hobbies, or spending quality time with loved ones, your annuity provides a stable income to help bring your retirement dreams to life. Take a moment to revisit your priorities–are they the same as they were five or ten years ago? Or have they shifted? Use your priorities as a guide for how you spend your retirement income.

Keep an eye on your income

and expenses

With an annuity, you have the peace of mind of predictable payments, but it’s still important to regularly review your income and expenses to ensure they align with your lifestyle. Do your spending habits match your expectations? Maybe you’re saving more on transportation than you thought, but medical costs are higher than planned. By reviewing your budget periodically, you can adjust for any surprises, cut unnecessary expenses, and keep yourself on track.

Plan for inflation

Most annuities provide fixed income for life, which gives you a great deal of financial stability. But those fixed payments can also lose purchasing power over time due to inflation. To accommodate this, maintain investments or savings in vehicles that have the potential for growth, such as Tax Free Savings Accounts (TFSAs) to supplement your income as costs rise.

Your SPP annuity gives you financial stability, freeing you to enjoy your retirement without constantly worrying about market fluctuations.

Supplement with other income sources

Your annuity gives you a stable financial base, but it may not cover all your retirement needs. Consider how other income streams, including government benefits (such as Canada Pension Plan and Old Age Security), your personal savings, and part-time or occasional work, can complement your annuity to create a
well-rounded financial plan.

Enduring Power of Attorney

Consider sending a copy of your Enduring Power of Attorney document to our office to keep your account up-to-date. By having your Enduring Power of Attorney on file, we can ensure your account is managed according to your wishes, should unexpected circumstances arise.

T4A

You should have received your 2024 T4A (or NR4 if you live outside of Canada) in the mail. This slip records any taxable benefit you received during the year and is required when you file your income tax return with Canada Revenue Agency (CRA). To access a copy digitally, please log into your MySPP account.

SPP income is taxable to the person named on the T4A/NR4.
Amounts in Box 016 qualify for the pension income amount.

From left to right: Harlie Messer, Calla McLean, Grace Tan, Shonna McKenzie, Ashara Dana, Cheryl
Andreas,Madison Kosolofski, Kayln Tait, Anne Yamson.

SPP NEWS

From the Board Table

SPP’s Board of Trustees provides diligent oversight in all aspects of the Plan’s financial management. Key priorities include ensuring plan expenses are low so costs to members are managed effectively, providing robust investment management oversight, and focusing on growth–the larger the pooled assets, the lower the costs to members.

In addition, the Board’s priorities include ensuring information technology systems are modern, effective and relevant; SPP is well on the way to redesigning the systems to more effectively serve members. As part of our growth strategy, we’re excited to share how our team is evolving to better serve you.

Evolving Our SPP Team

In 2024, several of our staff achieved key milestones:

Cheryl Andreas has been with SPP for 20 years, and as the Senior Director, Finance and Member Service, she brings her seasoned expertise to serve all aspects of our operations. Congratulations Cheryl!
Shonna McKenzie celebrated a milestone and has been with SPP for 5 years. As the Manager of Finance, Shonna plays a critical role in ensuring diligent and strong financial compliance. Thank you Shonna!
Calla McLean has been with SPP for 10 years. As a Senior Member Service Officer, Calla plays a key role in supervising the member service team and providing effective front-line services to our members. Thank you Calla!

We are thrilled to welcome Harlie Messer, Grace Tan, Madison Kosolofski and Anne Yamson to our team. We would also like to introduce our Manager of Business Development. Welcome to Ashara Dana who joined our team in May of 2024–thank you for providing sound leadership to our business development team to ensure our continued growth.

Ashara Dana holds a master’s degree in Business Administration and Applied Physics. She brings with her over 13 years of experience in various business development and finance roles. She is committed to excellence, ensuring that suitable and quality services are provided to SPP members and prospective members.

We are also pleased to welcome Kayln Tait who joined the SPP team as Senior Financial Investment Officer. Her expertise and skills have added significant value to our finance team.

Kayln Tait holds a Bachelor of Commerce degree in Accounting. She began her journey in accounting as a bookkeeper 7 years ago. Kayln strives to take initiative and looks forward to working with the SPP team to help enhance and further digitize accounting processes.