Market downturn may affect Saskatchewan pensioners

Pension plans are often wrapped up in the stock market, meaning that the latest market downturn could affect Saskatchewan residents’ retirement plans.

Brian Smith works for Public Employees Pension Plan (PEPP), the largest plan in Canada. He said the recent downturn is not forcing any major changes with the PEPP.

“In terms of investing in the markets, we are doing the same things today that we were doing last week,” said Smith.

He said, overall, daily highs and lows don't matter to most individuals.

“They’re long-term investors. So, when there is volatility in the market we really don’t do anything,” said Smith.

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But there are a small amount of people in defined contribution plans.

Colin Lowenberger, with the City of Regina, said those pensioners could see some losses.

“If you’re in a defined contribution plan – it might cause some people to rethink their retirement plans,” said Lowenberger, adding that those sort of aggressive pensions aren't as nearly as common.

Lowenberger sid those who are close to retirement likely don't have their money in defined contribution plans.

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