Wednesday, September 12, 2007

Saskatchewan Pension Plan

Information about SPP for artists

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Saskatchewan Pension Plan makes it easy for artists to have a pension plan, even though as an artist you may have multiple employers per year, or are self employed. Anyone can contribute to your account, in any amount, at any time (up to a combined maximum of $600 per year). That way, sponsors, engagers, employers and anyone can contribute to your account as part of a grant, contract or employment agreement. The amount of money contributed on your behalf remains in your account, earning interest until you want to retire from SPP (between the ages of 55 and 69). The Plan will accommodate your individual financial circumstances. Once you have an SPP account, you can start and stop contributions whenever you wish. There’s no obligation to contribute every year. As well, the contributions are tax deductible by you. $600 per year for 30 years can earn you over $70,000 or save just $1 a day for 40 years and you will earn more than $100,000 (assuming an 8% interest rate). Joining SPP will cost you nothing. We even provide a postage paid envelope (downloadable from our website or mailed to you) so you can send in your application to SPP. Even if you already have a pension or RRSP plan, you can still become a member of SPP, save additional money for your retirement, and encourage your employers or engagers to contribute on your behalf. For more information, or to join the Plan, call 1 800 667 7153 or visit www.saskpension.com .