The unfunded liability in the Saskatchewan Teachers' Superannuation Plan (STSP) is estimated to be $5.952 billion.
There are 304 teachers who are active
members of this pension plan.
The youngest active member of the Plan was born in December 1959.
There are 11,347 people receiving a pension benefit from the Commission. All but 33 have their funds direct deposited.
Plan's oldest superannuate was born in January 1908.
Plan's oldest spouse receiving a survivor's benefit was born in March 1910.
youngest member receiving a superannuation allowance from the Plan was
born in December 1959.
youngest spouse in receipt of a survivor's benefit from the Plan was born in October 1964.
August 31, 2015, 21,939 teachers and superannuates participate
in the Teachers' Group Life Insurance Plan with a total
of $3.23 billion of insurance in force.
The Cost of Living Allowance (COLA) increase for 2016
is 1.0%. For those who began receiving payments during the 2015 calendar year, the COLA will be prorated.
Applying for your Superannuation Allowance:
Once you have decided to take the big step towards retirement, you must contact the Saskatchewan Teachers' Superannuation Commission (STSC) to apply for any benedit payable from the superannuation plan by submitting the appropriate forms THREE months in advance of your retirement date. Application to commence your retirement allowance must be done separately from notifying your school division of your retirement, even if you plan on returning to teaching as a substitute or on a tempory contract. You must apply for any benefit from the Plan before the end of the calendar year that you reach age 71.