# PEPP VPB or pRRIF



## Yvonnebloos (Aug 22, 2017)

I have a Public Employees Pension Plan and I always planned to convert it to a Variable Pension Benefit when I retire. Recently I met with an independent financial advisor and he advised me to move my PEPP contributions into a pRRIF that he will administer. Does anyone have any suggestions pro or con for taking money out of the PEPP plan?


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## Joebaba (Jan 31, 2017)

Hi Yvonne,

I am a member of PEPP as well.

A Variable Pension Benefit (VPB) with PEPP is very similar to a P-RRIF with an outside financial institution.

You can see a bit more about the VPB at this link….

http://www.peba.gov.sk.ca/fileadmin...pepp/publications/PEPP_Talk/pt_vp_benefit.pdf

As to whether it is best to leave the money in PEPP and get a VPB, or take it out and put it in a P-RIFF…..
that would depend very much on how much you trust your outside advisor, to look after you in the best way.

PEPP has the benefit of low management fees, plus quite a few investment options. I would be worried that your outside advisor, might put your money into funds that have higher than average management fees - such that he/she would benefit more than you.

If you do some searching on this site, many people disagree on many things here, but the one thing they all seem to agree on is to try to pay low management fees. PEPP will have quite low management fees – the only way to get them lower would probably be to manage your investments yourself – which I’m assuming you’re not interested in doing.

I’d suggest phoning PEPP and scheduling a meeting with one of their advisors to get a little more info – 306-787-5442. 

Joe


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## Joebaba (Jan 31, 2017)

One other thought…..

If you leave your money in PEPP and get a VPB, you can always transfer it to a P-RIFF later.
But I don’t think the opposite is true – if you move your money out to a P-RIFF, and close your PEPP account, I don’t think you can reopen an account and move the money back in to PEPP (though I could be wrong).


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