SK: STRP Pension Adjustment Calculations

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Pension adjustment (PA) calculation changes for STRP (Saskatchewan)

What we’re doing:

The STRP changed their pension formula, effective July 1, 2024. Meaning, the PA calculation for 2024 is half one formula that uses two levels of deduction (under and over YMPE) and the second half of the year uses a single level of deduction.

Why we think you’ll like it:

These updates will assist school authorities in Saskatchewan comply with STRP Pension Adjustments.

Learn more:

When running Pension Adjustment Calculations for 2024, the system is hard-coded with the January-June formula and the July-December formula. Users do not need to change their profiles.

However, in 2025, districts must define the Pension Adjustment Profile with the full rate for both the under and over YMPE.