Government of Saskatchewan
Thursday, December 05, 2019
Financial and Consumer Affairs Authority

The Pension Benefits Act, 1992 of Saskatchewan applies to all Saskatchewan members of employer-sponsored pension plans, no matter where the plan is registered. However, some plans, such as those described below, are not covered by the Act.

  • employee profit sharing plans, deferred profit sharing plans, retiring allowances or ordinary (not locked-in) registered retirement savings plans;
  • federally-regulated pension plans - for example airlines, railways, grain handlers, radio broadcasting stations and banks;
  • pension plans for federal government employees, including the RCMP and armed forces; and
  • some pension plans created by legislation of the Government of Saskatchewan for its own employees.  

The federal government and all provinces in Canada, except Prince Edward Island, have pension benefits legislation. To simplify the administration of pension plans, the jurisdictions with pension legislation have agreed to allow a pension plan to be registered in the jurisdiction where most members are employed. Only about 490 of the almost 1,400 plans in Canada with plan members working in Saskatchewan are registered with the Pensions Division.

Benefit standards, such as vesting and survivor benefits, are set by the jurisdiction in which you are employed. The regulator of the jurisdiction of registration enforces the laws of other provinces. If you work in Saskatchewan, but your plan is registered elsewhere, you should ensure that the plan administrator understands your rights under Saskatchewan law, particularly on termination of employment and retirement.

If you are employed in Saskatchewan at the date you terminate employment or retire, then Saskatchewan's Locked-in Retirement Account (LIRA) and Registered Retirement Income Fund (RRIF) rules will apply to your pension money no matter where you live. For example, if you terminate employment in Saskatchewan, transfer your pension money to a Saskatchewan LIRA and move to British Columbia, your money must remain in a Saskatchewan LIRA. It cannot be transferred to a B.C. LIRA. However, nothing would prevent a financial institution located in B.C. from administering a LIRA which met the requirements of Saskatchewan regulations.

See the related document below for more information on jurisdiction.

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