It is once again time for the PPAS Annual General Meetings (AGM).  They are scheduled for Saskatoon on November 26 and Regina on November 27, 2025.  Meeting details are shown at the end of this report and the AGM documents that follow this page.

Your annual $10.00 membership fee enables the Association to carry on its efforts to protect and enhance your pension plan.  PPAS needs your involvement to be effective. There is no other organization whose primary goal is to protect your interests in your pension plan.

On the front of this mailing’s envelope is the expiry date of your membership. If you are not current, please mail in your dues with the membership form shown at the bottom of the directors’ list.  You also have the option to electronically transfer your fees to the PPAS through your financial institution’s online banking.  To start, you must set up PPAS as a Contact with ppastreasurer@gmail.com as the receiving email.  Your financial institution may make you establish a security question and answer, but you will not need to use it since PPAS has set up auto-deposit.  Please include the member’s name and address in the message. 

Directors of the PPAS will be elected at this meeting.  This is not a large time commitment, and most meetings are held by conference call.  New voices are always welcome, so please consider putting your name forward for election to a two-year term starting in 2026.

Financials

As of June 30, 2025, membership of the SaskPower Superannuation Plan consisted of 1,370 superannuates and survivors, and one active member.  All active members have achieved 35 years of pensionable service.

The Plan investment return is as follows:  as at June 30, 2025, one-year rate 8.2%, four-year rate 8%, and ten-year rate 7%.  The Plan investment return one year ago was, on June 30, 2024:  one-year rate 13.6%, four-year rate 7.8%, and ten-year rate 7.1%.

As of June 30, 2025, the Net Assets Available for Benefits is $610 million.  On June 30, 2024, it was $621 million.  Therefore, from June 2024 to June 2025, the net assets available for benefits has decreased by approximately $11 million.  In this 12-month period $58 million, about the same as the previous year, was paid out in pension obligation payments.  The last five years’ payments have been, in reverse order, $58M, $58M, $58M, $60M, and $60M.

For your information, following is the Funding Policy, as reported in the Power Corporation – Superannuation Plan – Annual Report 2024:

SaskPower has a funding policy which specifies the amount of funding into the Plan by SaskPower in a given year shall be a range.  The minimum amount, when the Plan’s funded status is 95% or greater, is zero and when the Plan’s funded status is less than 95%, is the funding deficit divided by 10.  The maximum amount of funding into the Plan is the funding deficit.  Funding into the Plan in a given year shall take place within three months following the actuary finalizing its Funding Valuation for the Plan.

In 2024, Ken Pielak retired from the Power Corporation Superannuation Plan Board after 28 years of service.  We sincerely thank Ken for his contributions to the Board over the years and wish him all the best in the future.  This year, Marilyn Friesen was appointed to the PCSP Board and we thank her for stepping up to represent members of the plan.  The PCSP Board has seven members:  three from SaskPower, one from SaskEnergy and three from our organization, the Power Pioneers Association of Saskatchewan.  Kerry Friesen and Kathy Zwick fill the other two PPAS seats.

Yours truly,

Brian Ross – President, Power Pioneers Association of Saskatchewan

Saskatoon 2025 Annual General Meeting                         Regina 2025 Annual General Meeting

Wed. Nov. 26, 2025, 1 p.m.-3 p.m.                                   Thurs. Nov. 27, 2025, 1 p.m.-3 p.m.

Location:  Confederation Inn                                            Location:  Comfort Suites Regina

3330 Fairlight Drive, 306-384-2882                                  4300 Diefenbaker Drive, 306-949-4000