About

A Post-Retirement Spending Account (PRSA) is given to retiring Exempt employees who are over the age of 55 and have a minimum of ten (10) years of service.

The Post-Retirement Spending Account is intended to assist employees in transitioning from the University of Saskatchewan benefit programs to individual plans during the first two years of retirement.

The Post-Retirement Spending Account is administered by Sun Life Financial and will provide reimbursement of premiums that are paid to private health and dental insurance plans offered through any registered insurer.

Annual Allotment

The Post-Retirement Spending Account $1,000 for each of the first two years following retirement

The university will allocate the applicable amount of funds to your account.

Carry Forward Credit Accrual

Your initial deposit to the PRSA will be effective on your retirement date. Any unused funds will be carried forward until December 31 of the year following your retirement date, at which time any remaining funds will be forfeited.

Your second and final deposit to the PRSA will be made on the January 1 following your date of retirement. This second deposit will be available to you until December 31 of the year following the date you received the second allocation, at which time any remaining funds will be forfeited.

Eligible Expenses

Your eligible expenses are restricted to reimbursement of private health and dental insurance premiums only.

For example, monthly or lump sum premiums that pay for individual health and dental plans offered by any registered insurer can be reimbursed from your PRSA.

Taxation

Based on the University of Saskatchewan’s interpretation of The Income Tax Act, amounts reimbursed under the PRSA are considered non- taxable to participating retirees.

Claims

View claim procedures including coordination of benefits and submission deadlines.

Getting Help

Sun Life Customer Call Centre

Sun Life has a Customer Call Centre that provides information directly related to your benefits, claims submitted and status of your claim. Other questions or scenarios that Sun Life can assist with are:

 1-800-361-6212 during the work week from 8am to 8 pm EST.

Or connect online through your MySunLife account. Visit www.mysunlife.ca and enter your access ID and password. 

Connection Point 

Types of questions Connection Point can assist with:

Come See Us 
Arts Building, Room 258
Monday to Friday, 8:00 am to 4:30 pm

(306) 966-2000
1-844-697-4865 
 connectionpoint@usask.ca