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Apply for Lifetime Pension
Overview
Please complete this form or contact us to start the application process for a Lifetime Pension. We will provide you with your estimated monthly pension payments based on your personal information along with the application form.
The Lifetime Pension is designed to provide you with dependable monthly payments for life, regardless of how long you live. The Variable Pension Benefit offers you flexibility and control over when and how much retirement income to withdraw, and choice over how your money is invested within the Plan. You have the option to choose a combination the Lifetime Pension and Variable Pension Benefit for your retirement income.
Related information:
Resources to learn more about the Lifetime Pension:
Requirements
Forms and Documents
These are the forms PEPP requires to process your Lifetime Pension application:
Lifetime Pension Purchase Application form - contact PEPP for the application form.
Declaration of Common-Law Relationship - Member form (if applicable)
Additional Forms Required if in a Relationship
If you are in a relationship (married or common-law) and want to purchase a single life Lifetime Pension, we require the Spouse's Consent and Waiver of Post-Retirement Survivor Benefits form to be completed.
If you are in a relationship (married or common-law) and want to name someone other than your spouse as your designated beneficiary, we require the Spouse's Waiver of Designated Beneficiary Status form to be completed.
TD1 Personal Tax Credits Return form
TD1 Saskatchewan Personal Tax Credit Return form
Other Documentation Required
Proof of Age if not previously provided to PEPP - refer to the list of acceptable documents for proof of age.
Proof of Relationship - refer to the list of acceptable documents for proof of relationship status.
If applicable:
- Proof of membership for former PEPP members, which can be a previous PEPP member statement, a T4, or a payslip showing PEPP deductions.
- Applicable Canada Revenue Agency transfer documents for members transferring money into the VPB from outside sources (T2033 for RRSPs, T2151 for locked-in transfers).
Processing Time
PEPP must receive all required forms (application, proof of age, waivers, etc.) at least 5 business days before the start of the month you want to start receiving Lifetime Pension payments. Lifetime Pension payments are direct deposited to your bank account at month end.
For example, for a Lifetime Pension starting on Monday, April 1, PEPP must receive the completed forms 5 business days prior (Monday, March 24). Your first payment will be made to you at month end (April 30).
PEPP is not responsible for any delays due to mail or fax.
Fees
There is no cost to apply for the Lifetime Pension.