Despite its low annual contribution limit of $2,500, the SPP is worth considering as a supplement to your RRSP. For more information on the SPP, including Frequently Asked Questions and to Join, please visit Saskatchewan Pension Plan.
Just so, is Saskatchewan Pension Plan an RRSP?
Saskatchewan Pension Plan vs RRSP
The SPP is basically held inside a RRSP account, with a tighter contribution limit and much stricter withdrawal rules. Otherwise, the SPP follows identical tax rules. Even if you have additional RRSP room you can only contribute up to $6200 a year into the SPP.
Consequently, can anyone join Saskatchewan Pension Plan? Joining the Saskatchewan Pension Plan is Easy
If you’re a Saskatchewan resident between 18 and 71 years of age and you or your spouse have available RRSP contribution room, you qualify.